{"id":365631,"date":"2020-07-30T15:24:45","date_gmt":"2020-07-30T09:54:45","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=365631"},"modified":"2020-07-30T15:24:45","modified_gmt":"2020-07-30T09:54:45","slug":"shell-profits-plunge-82-as-coronavirus-pandemic-hits-energy-demand","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/shell-profits-plunge-82-as-coronavirus-pandemic-hits-energy-demand\/","title":{"rendered":"Shell profits plunge 82% as coronavirus pandemic hits energy demand"},"content":{"rendered":"<p>Royal Dutch Shell said Thursday that its second-quarter earnings plunged 82% as the COVID-19 pandemic slashed energy prices and demand.<\/p>\n<p>Shell reported that adjusted profit, which excludes one-time items and changes in the value of inventories, dropped to $638 million from $3.46 billion in the same period last year.<\/p>\n<p>Shell took a charge of $16.8 billion amid reduced expectations for energy prices and refining margins, as well as weaker energy demand due to the pandemic.<\/p>\n<p>Including this charge, the company reported a net loss of $18.1 billion, compared with net income of $3 billion pounds a year earlier.<\/p>\n<p>CEO Ben van Beurden says the company is facing a remarkably challenging environment and focusing on decisive cash preservation measures&#8221; to underpin the balance sheet.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Royal Dutch Shell said Thursday that its second-quarter earnings plunged 82% as the COVID-19 pandemic slashed energy prices and demand. Shell reported that adjusted profit, which excludes one-time items and changes in the value of inventories, dropped to $638 million from $3.46 billion in the same period last year. Shell took a charge of $16.8 billion amid reduced expectations for energy prices and refining margins, as well as weaker energy demand due to the pandemic. Including this charge, the company reported a net loss of $18.1 billion, compared with net income of $3 billion pounds a year earlier. CEO Ben [&hellip;]<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[133],"tags":[],"class_list":["post-365631","post","type-post","status-publish","format-standard","hentry","category-oil-gas"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/365631","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=365631"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/365631\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=365631"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=365631"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=365631"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}