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Shell pummelled by oil price and $16.8bn writedown

Impairments knocked earnings into the red but underlying numbers were also poor
Shell pummelled by oil price and $16.8bn writedown

The best Royal Dutch Shell (RDSB) could have been hoping for in its interim results was ‘better than expected’. It got that far, at least, with a $15.6bn (£11.9bn) loss on its preferred profit metric - earnings on a current cost of supply (CCS) basis - after incurring a $16.8bn impairment based on more pessimistic oil price forecasts. The impairment forecast had been up to $22bn. 

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