After BP last month announced that it planned to impair $13-17.5bn in its Q2 results in the face of sharply lower oil and gas price assumptions (MEES, 19 June), this week was the turn of Shell.

The Anglo-Dutch major on 30 June said it expects to take a $15-22bn post-tax impairment charge, $20-27bn on a pre-tax basis, in its Q2 results on 30 July. (CONTINUED - 1037 WORDS)