Business
Origin Energy takes $1bn hit amid COVID-19 and shift to cleaner future – Sydney Morning Herald
Origin Energy has flagged a write-down of as much as $1.2 billion, citing plummeting oil and gas prices and the world’s transition away from fossil fuels.
Origin Energy has become the latest energy giant to take a heavy write-down on the value of its business, flagging a hit of up to $1.2 billion due to plummeting oil and gas prices and the world’s progressive transition away from fossil fuels.
Following similar moves by European oil majors BP and Shell and Australia’s Woodside Petroleum, Origin on Wednesday lowered the value of its business due to the impact of COVID-19 travel restrictions sapping global oil and gas demand, and slashed price for…
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