Shell set for £189m assets write-down

Link: Shell appoints new CFO to replace Boynton

Analysts claim that while the eventual impact of the writedown would be small, it was disappointing news that Shell paid too much for Enterprise Oil, reported the Financial Times.

‘We didn’t think the acquisition was an excellent idea and this confirms what we thought,’ said Vincent Zelenko, oil analyst at JP Morgan.

The news follows a series of announcements about the over estimation of its oil reserves, which caused investor outrage and the eventual removal of top management.

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