Shell PLC said it expects to book accounting charges of up to $5 billion in the first quarter related to its decision to exit its Russia operations, including joint ventures with energy giant Gazprom PJSC, in the wake of Russia’s invasion of Ukraine.
The London-based oil major provided the guidance Thursday ahead of quarterly earnings scheduled for May 5. The disclosure gives investors additional clues about the impact Western companies face as a result of moves to divorce themselves from Russia.
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