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Shell and Total book asset impairments totaling USD 25 billion

The interim reports for the world's largest energy companies have started ticking in, and they bear witness to a serious setback for the industry in recent months. In the second quarter alone, oil supermajors Shell and Total booked impairments totaling USD 25 billion.

Photo: POLFOTO/AP/Daniella Beccaria/seattlepi.com

The world's largest oil companies are currently busy quantifying the historic challenge facing the entire oil and gas industry at the moment. And judging from the interim reports just published by Shell and Total, things are not looking good.

Together, the two oil supermajors have had to book impairments totaling USD 25 billion, simply because they no longer have faith in the value of their assets, including how much money they can make from their businesses in the future.

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