Oil majors wipe $80 billion off books as epidemic, energy transition bite

COVID together with the ramifications of the oil price crisis at the beginning of 2020 provides the perfect backdrop for writing off assets that have been duds long before the virus hit us. Long before oil prices went to the dumper. Some projects were decided on projections about oil prices and use that were hilarious at the time when they were made. But then wéveryone is in a feeding frenzy, it’s hard to stay composed. Besides, there are some bouses that want to be made. Behind me the deluge.

Linkedin Thread