LONDON—Royal Dutch Shell PLC is writing down the value of its assets by up to $22 billion because of lower energy prices following the demand-sapping coronavirus pandemic. The write-down follows one by BP PLC on a similar scale earlier this month. Lower oil and gas prices brought on by the pandemic and uncertainty over the pace of the transition to lower-carbon energy have caused major oil companies to question the value of their reserves. Exxon Mobil Corp. has resisted pressure from accountants to write down its assets.

Source: Wall Street Journal June 30, 2020 08:16 UTC