Shell reported that it will write down up to $5 billion after its decision to leave Russian market, while growth of oil and gas prices provoked trading activities in the first quarter.
The post-tax impairments that are estimated between $4 billion and $5 billion won't affect Shell's revenue, the company mentioned ahead of its earning announcement on May 5.
Earlier Shell said that the Russian write downs were estimated to be $3.4 billion. The increase is linked to the additional potential impacts around contracts, writedowns of receivables, and credit losses in Russia, a Shell representative said.
Shell's market capitalisation is around $210 billion.
Russia suspected the USA's involvement in the Nord Stream blasts immediately after the incident. As for the Norwegians, their participation in the incident seems very surprising