<p class="title">Royal Dutch Shell expects to write down up to $800 million in the first quarter of 2020 following a slump in oil prices that has also slowed the energy giant's operations.</p>.<p class="bodytext">In an update ahead of its first-quarter results, Shell said that as a result of the coronavirus it has seen and expects "significant uncertainty" over oil and gas prices and demand.</p>.<p class="bodytext">Shell lowered its oil and gas price outlook for 2020, resulting in a post-tax impairment charge in the range of $400-$800 million, it said.</p>.<p class="bodytext">Benchmark Brent crude prices fell by around 65% in the first quarter and were trading at below $23 a barrel on Tuesday as a result of a sharp drop in global demand due to the coronavirus and pledges by Saudi Arabia and Russia to raise output.</p>.<p class="bodytext">Shell's oil production was expected to fall by 4.5% versus the fourth quarter of 2019 while liquefied natural gas (LNG) volumes were set to decline by 2.3%. </p>
<p class="title">Royal Dutch Shell expects to write down up to $800 million in the first quarter of 2020 following a slump in oil prices that has also slowed the energy giant's operations.</p>.<p class="bodytext">In an update ahead of its first-quarter results, Shell said that as a result of the coronavirus it has seen and expects "significant uncertainty" over oil and gas prices and demand.</p>.<p class="bodytext">Shell lowered its oil and gas price outlook for 2020, resulting in a post-tax impairment charge in the range of $400-$800 million, it said.</p>.<p class="bodytext">Benchmark Brent crude prices fell by around 65% in the first quarter and were trading at below $23 a barrel on Tuesday as a result of a sharp drop in global demand due to the coronavirus and pledges by Saudi Arabia and Russia to raise output.</p>.<p class="bodytext">Shell's oil production was expected to fall by 4.5% versus the fourth quarter of 2019 while liquefied natural gas (LNG) volumes were set to decline by 2.3%. </p>