Shell shutters Prelude LNG and delays Crux expansion
Lots of companies will use COVID-19 and the resulting crisis to write off badly performing assets. Before the crisis, the management of the respective company would have to face very uncomfortable questions by shareholders for closing down duds. Now it can all be blamed to COVID-19. But ask yourself – can a crisis that will most likely be measured in terms of less than a year with an almost guaranteed uptick afterward really endanger an asset that’s supposed to earn itself over 20 years? Normally that’s an anomaly to be dealt with – but if the asset does not even perform during more normal times, then why let a perfectly good crisis go to waste.
Boiling Cold 
