Feb 4, 2021

Royal Dutch Shell sees huge loss as pandemic hits oil demand

Oil giant Royal Dutch Shell sank to a net loss of $21.7bn last year after the coronavirus pandemic caused demand to slump. Looking ahead, Shell said "Significant uncertainty" would continue to have a negative impact on demand for oil and gas products. In September last year, Shell announced that up to 9,000 jobs would go worldwide as the company responded to the effects of the pandemic. Last month, it said it was cutting 330 jobs from its operations in the North Sea. The Covid impact means companies such as Shell are accelerating that transition.

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