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Shell borrows as oil tumbles further

Oil and gas giant takes on $12bn loan on top of previously-announced capex and opex cuts
Shell borrows as oil tumbles further

Royal Dutch Shell (RDSB) has upped the ante in its response to Covid-19. The supermajor has taken out a new $12bn (£9.7bn) loan and announced impairments of up to $800m based on the new price forecasts for this year. Including another new loan of $10bn from the end of 2019, this has taken its liquidity to $40bn.

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