Shell says its decision to pull out of Russia in response to the country's invasion of Ukraine has already cost the international energy giant as much as US$5 billion.
The reduced value of Russian assets, credit losses and "onerous" contract terms will cut earnings for the first three months of the year by between $4 billion and $5 billion, London-based Shell said Thursday. The estimate was part of an update released before publication of complete first-quarter earnings on May 5.
Shell said last month that it was "appalled" by the invasion of Ukraine as it announced plans to exit joint ventures with Russian state-owned energy company Gazprom. Those assets alone were valued at about $3 billion at the end of last year, according to Shell's annual report.
The company later said it would stop buying Russian oil and withdraw from any involvement with Russian hydrocarbons "regardless of their financial implications."
Shell's decision came as the U.K. joined governments around the world in imposing sanctions on Russian companies, banks and wealthy individuals in an effort to pressure President Vladimir Putin to withdraw his forces from Ukraine.
Energy companies are under pressure to cut ties with Russia because oil and natural gas exports are crucial to financing the Kremlin and its military.
Do you have any questions about the attack on Ukraine? Email dotcom@bellmedia.ca.
Hurricane Milton is a Category 5 storm forecast to bring extreme flooding, high winds and heavy rain to the central west coast of Florida.
COVID-19 could be a powerful risk factor for heart attacks and strokes for as long as three years after an infection, a large new study suggests.
The federal government introduced a number of measures related to housing on Tuesday, which include measures for homeowners wanting to add a secondary suite, taxing vacant land and building homes in place of underused federal properties.
An organization that ranks the best universities across the globe says its latest report shows a concerning trend that several of Canada鈥檚 institutions are slipping down its list.
Andrew Garfield鈥檚 ability to so lovingly and poetically express his grief for his mother, Linda, who died of pancreatic cancer in 2019, offers a gift of connection, and, perhaps, catharsis, to anyone experiencing loss.
A British Columbia provincial court judge says a Boston Bar man who shot a teacup Chihuahua named Bear claiming it was menacing his chickens was not justified in killing the animal.
A man who showed up at a rental car company only to be told his online reservation would not be honoured is entitled to compensation, B.C.'s small claims tribunal has ruled.
Emotions boiled over after a judge acquitted two out of three defendants in a manslaughter case, while the third accused has since died.
The minority Liberal government is not considering proroguing Parliament, Deputy Prime Minister Chrystia Freeland said Tuesday, despite persisting uncertainty over who is willing to keep propping them up and procedural wrangling over a Conservative led-privilege debate.
An organization that ranks the best universities across the globe says its latest report shows a concerning trend that several of Canada鈥檚 institutions are slipping down its list.
On September 11, Madeleine Gervais was the victim of a theft in Ottawa's west end. It happened in the Loblaws parking lot in College Square, when she was approached by a man and a woman who insisted to help her load her groceries into her car.
Vancouver police say they are conducting an investigation into a pro-Palestinian protest where they say speakers expressed "solidarity with terrorist groups."
A British Columbia provincial court judge says a Boston Bar man who shot a teacup Chihuahua named Bear claiming it was menacing his chickens was not justified in killing the animal.
More than two weeks have passed since Hassan Ali walked out of a Toronto courtroom a free man, after prosecutors decided not to move forward with a first-degree murder trial against the local rapper.
As the war in Gaza escalates, Nabila Manna watches from her home with feelings of fear and helplessness. Her mother, siblings, and extended family are all in Gaza.
The Dominican Republic said Tuesday it has deported or repatriated nearly 11,000 Haitians in the past week, fulfilling a pledge to do so weekly as neighboring Haiti scrambles to handle the influx while besieged by gang violence and poverty.
Florida gas stations struggled to keep up with demand Tuesday as long lines and empty pumps compounded the stress for residents planning to hunker down or flee as Hurricane Milton approached the state's western coast.
The FBI has arrested an Afghan man who officials say was inspired by the Islamic State and was plotting an Election Day attack targeting large crowds in the U.S., the Justice Department said Tuesday.
Donald Trump has had as many as seven private phone calls with Vladimir Putin since leaving office and secretly sent the Russian president COVID-19 test machines during the height of the pandemic, Bob Woodward reported in his new book, 'War.'
A former New York City official was charged Tuesday with witness tampering and destroying evidence in a federal investigation that led to Mayor Eric Adams鈥 bribery indictment. The arrest came amid yet more high-profile departures from Adams' administration as federal prosecutors delve deeper into allegations that the mayor was involved in a coverup.
A seasoned American meteorologist became emotional on air as he gave an update on a major hurricane, later suggesting the reason behind his strong reaction.
The federal government introduced a number of measures related to housing on Tuesday, which include measures for homeowners wanting to add a secondary suite, taxing vacant land and building homes in place of underused federal properties.
The minority Liberal government is not considering proroguing Parliament, Deputy Prime Minister Chrystia Freeland said Tuesday, despite persisting uncertainty over who is willing to keep propping them up and procedural wrangling over a Conservative led-privilege debate.
Former cabinet minister Marc Garneau, who describes himself in his new book as always-a-Liberal, 'but a decidedly blue one,' says he hopes the party still has room for someone like him.
The Ontario Ministry of Health says four people have been sickened after consuming beef tongue believed to be contaminated with listeria.
One in eight women will be diagnosed with invasive breast cancer in their lifetimes, according to the American Cancer Society. Breast cancer is the second leading cause of cancer death for women in the United States, with 42,000 women dying every year from this cancer.
A new report that looks at the sex lives of Canadian youth suggests more needs to be done to encourage safe sex, including reversing a decrease in condom use.
The Brazilian Supreme Court's Justice Alexandre de Moraes on Tuesday authorized the restoration of social media platform X麓s service in Brazil, over a month after its nationwide shutdown, according to a statement posted on the court's website.
Geoffrey Hinton, the British Canadian computer scientist whose machine learning discoveries have proved so profound he's known as the 'godfather of AI,' has won the Nobel Prize in physics.
A device used by researchers with Fisheries and Oceans Canada appears to have been the victim of an attack by a great white shark 300 metres under water off the coast of Nova Scotia.
Andrew Garfield鈥檚 ability to so lovingly and poetically express his grief for his mother, Linda, who died of pancreatic cancer in 2019, offers a gift of connection, and, perhaps, catharsis, to anyone experiencing loss.
Jenna Fischer is highlighting Breast Cancer Awareness Month by sharing that she is now 'cancer free' after she was diagnosed with the disease in October 2023.
Sum 41 lead singer Deryck Whibley alleges in his new memoir that he was pressured into a secret sexual relationship with his former manager, Treble Charger frontman Greig Nori.
As Hurricane Milton makes its way towards Florida, the storm has forced Orlando's theme parks to adjust. Here's a look at what's happening with Universal Resort, SeaWorld and Walt Disney World.
A man who showed up at a rental car company only to be told his online reservation would not be honoured is entitled to compensation, B.C.'s small claims tribunal has ruled.
Inflation and higher interest rates have eroded Canadians' purchasing power since 2022, particularly for lower-income households, a new report from the parliamentary budget officer has found.
Have you ever seen videos of hovercrafts online or on TV and thought, 'Wow, I wish I could ride one of those.' One Alberta man did, and then built his own.
A woman in Greater Sudbury, Ont., said "It doesn't get more Canadian than this" when she spotted a black bear dumpster diving at a Tim Hortons last month.
A Winnipeg baker is hanging up his apron permanently because he won the lottery.
Saskatchewan鈥檚 Jessica Campbell has made hockey history, becoming the first ever female assistant coach in the National Hockey League (NHL).
The NFL's Tampa Bay Buccaneers and NHL's Tampa Bay Lightning have left Florida ahead of Hurricane Milton to practice the rest of the week.
RJ Barrett will miss the rest of the Toronto Raptors' pre-season with an injury.
Mercedes-Benz has partnered up with the Ontario Vehicle Innovation Network (OVIN) and the provincial government to launch a new 鈥渋ncubator program鈥. One of the first three locations is Windsor, with the other two going to Toronto and Kitchener-Waterloo.
New data from the Insurance Bureau of Canada (IBC) shows that even though claims for auto theft dropped in the first half of 2024 compared to their 2023 peak, the rates of reported theft remain well above those of years prior.
Tesla is recalling more than 27,000 Cybertrucks because the rearview camera image may not activate immediately after shifting into reverse, the fifth recall for the vehicle since it went on sale late last year.
Have you ever seen videos of hovercrafts online or on TV and thought, 'Wow, I wish I could ride one of those.' One Alberta man did, and then built his own.
Saskatchewan鈥檚 Jessica Campbell has made hockey history, becoming the first ever female assistant coach in the National Hockey League (NHL).
A B.C. couple is getting desperate 鈥 and creative 鈥 in their search for their missing dog.
Videos of a meteor streaking across the skies of southern Ontario have surfaced and small bits of the outer space rock may have made it to land, one astronomy professor says.
A unique form of clouds made an appearance over the skies of Ottawa on Sunday evening.
Bernie Hicks, known as the 鈥楤atman of Amherst,鈥 always wanted to sit in a Batmobile until a kind stranger made it happen.
Bubi鈥檚 Awesome Eats, located on University Ave West took to social media to announce the closure on Friday.
Weeneebayko Area Health Authority and the Government of Ontario have awarded a $1.8 billion fixed-price contract to design, build and finance a new Far North hospital.
Manitobans are in cleanup mode after intense winds barreled through southern parts of the province this weekend.
The leaders of B.C.'s main political parties sparred over health care, housing, and affordability Tuesday, pitching competing visions for how to address the most urgent issues facing the province in a debate punctuated by a few feisty exchanges.
Some sparks flew during Tuesday night鈥檚 televised leaders鈥 debate between David Eby, John Rustad and Sonia Furstenau, as the trio had impassioned conversations about the issues that are on many British Columbians鈥 minds ahead of election night, including housing, health care, the cost of living and public safety.
An open letter signed by 23 doctors and one nurse practitioner in B.C.鈥檚 Lower Mainland highlights their concerns about the potential for cuts to the health-care system if John Rustad鈥檚 Conservatives form government after this month鈥檚 provincial election.
Amazon has just launched a new service in Canada where delivery drivers can drop packages off directly in garages for those who want to protect their parcels from being swiped by porch pirates.
Another beluga whale has died at Marineland and four years into a provincial probe, Ontario's solicitor general is saying little about the investigation's progress.
More than two weeks have passed since Hassan Ali walked out of a Toronto courtroom a free man, after prosecutors decided not to move forward with a first-degree murder trial against the local rapper.
Calgary police are searching for a suspect or suspects in a stabbing that occurred in the city's southeast on Tuesday evening.
If you were outside and looked up Monday night, you likely witnessed one of Mother Nature's most spectacular displays.
A teen recording artist from Fernie, B.C., who made music with the Flaming Lips has died. Nell Smith's family confirmed her death in a social media post earlier this week.
As thousands of Canadians are on the hunt for deals during Amazon Prime Day this week, cybersecurity experts are sounding the alarm over an increase in fraudsters posing as the company online.
On September 11, Madeleine Gervais was the victim of a theft in Ottawa's west end. It happened in the Loblaws parking lot in College Square, when she was approached by a man and a woman who insisted to help her load her groceries into her car.
OC Transpo officials are satisfied with the start of a critical testing period required before opening Ottawa's new north-south train, despite some technical issues being identified on three trains on Monday.
The Quebec government is facing criticism for a program that paid students to learn a construction skill -- as less than half the graduates are certified to work in the industry.
A 10-year-old boy in Longueuil is recovering after his neighbour allegedly poured boiling water on him. Longueuil Police (SPAL) said the woman was arrested and could face assault charges.
A 38-year-old Beaumont resident is dead after a crash involving a motorcycle over the weekend.
Edmonton's transit system is seeing record usage, with six million trips taken in September.
One of Alberta Premier Danielle Smith鈥檚 key advisers and the driving force behind the province鈥檚 recovery-focused addiction treatment policy is leaving the job.
International award-winning editorial cartoonist Michael de Adder has been cut from the Halifax Chronicle Herald.
Hurricane Milton is a Category 5 storm forecast to bring extreme flooding, high winds and heavy rain to the central west coast of Florida.
A labour investigator has agreed with federal fishery officers that heavily armed criminals pose a threat to their lives and has ordered managers to take steps immediately to reduce the danger.
Concerns are being raised over a questionable PC campaign expense, after an invoice for a car rental was submitted by a company advertising sex and intimacy coaching.
There鈥檚 a new starting line-up at Canada Life Centre, which hockey fans and concertgoers will notice as soon as they walk in.
Manitoba RCMP and the Winnipeg Police Service are launching Manitoba's Most Wanted website.
Erin Folk and her family are dealing with a nightmare of a situation, after their pet dogs were shot last week.
The John Howard Society of Saskatchewan (JHSS) appeared in the Supreme Court of Canada Tuesday challenging a regulation that it says lets provincial correctional workers discipline inmates without sufficient proof.
A memo from the Saskatchewan Government Employees Union (SGEU) has painted a picture of healthcare workers on the brink 鈥 with under-staffing and burnout directly impacting quality of patient care within the Saskatchewan Cancer Agency (SCA).
Fire crews were called to respond to Mohawk Plaza shortly before 2 a.m. Tuesday.
The future of a hybrid shelter in Waterloo is up for discussion.
An app developed at the University of Guelph is aimed at making accessible doors more accessible.
The province鈥檚 consumer watchdog is investigating a Saskatoon company selling luxury vacation condos in Mexico.
In the wake of a near-fatal overdose at the doorstep of Saskatoon鈥檚 safe consumption site last week, the province鈥檚 political leaders are weighing in with their strategies to help those struggling with drug addiction.
A Saskatoon mom is desperately fighting eviction after she discovered mould in her suite and reported it to her landlord.
A crash Tuesday afternoon on Highway 144 has closed the road north of Sudbury.
After reaching peak intensity with wind speeds of 180 m.p.h. (285 km/h) on Monday night, Milton became the strongest storm on our planet for 2024.
Police in Huntsville are investigating a deadly single-vehicle collision that happened Tuesday morning.
Hurricane Milton is a Category 5 storm forecast to bring extreme flooding, high winds and heavy rain to the central west coast of Florida.
Lambton Public Health (LPH) has announced their fall immunization campaign, with a focus on addressing access barriers for vulnerable populations.
Speaking in front of the Strategic Priorities and Policy Committee, London Police Services (LPS) Chief Thai Truong gave an update on policing Tuesday.
A person remains in serious condition in hospital after being shot at a gas station robbery.
A 20-year-old man who was behind the wheel of a speeding car that struck and killed an international student in Barrie last summer pleaded guilty to dangerous driving causing death on Tuesday but will not spend any time behind bars.
Police in Huntsville are investigating a deadly single-vehicle collision that happened Tuesday morning.
Hurricane Milton is a Category 5 storm forecast to bring extreme flooding, high winds and heavy rain to the central west coast of Florida.
In February, council voted to convert the property into new high-density housing 鈥 meaning the new development would have a minimum of 109 units.
A Toronto couple pleaded guilty to involvement in a $13-million drug investigation that started in Windsor.
The leaders of B.C.'s main political parties sparred over health care, housing, and affordability Tuesday, pitching competing visions for how to address the most urgent issues facing the province in a debate punctuated by a few feisty exchanges.
Some sparks flew during Tuesday night鈥檚 televised leaders鈥 debate between David Eby, John Rustad and Sonia Furstenau, as the trio had impassioned conversations about the issues that are on many British Columbians鈥 minds ahead of election night, including housing, health care, the cost of living and public safety.
A retrial date has been set for a man accused of fatally shooting a rival gang member and an innocent teen passerby in Vancouver in 2018.
A U.S. District Court judge in Montana has sentenced a 27-year-old man from Kelowna, B.C., to 18 months in prison for using fake names to buy guns with the aim of selling them in Canada.
Nearly two years after a man was stabbed to death in downtown Kelowna, RCMP have made an arrest in the case.
NDP Leader David Eby is promising to offer a $75-million loan forgiveness program to entice doctors, nurses and heath professionals to expand health-care services in rural British Columbia.
Charges have been laid against a 44-year-old man following a traffic stop in Brocket, Piikani Nation RCMP said Tuesday.
A metal fabrication company west of Medicine Hat has been fined by Alberta Occupational Health and Safety (OHS) following a workplace fatality in 2023.
A Lethbridge police officer involved in a scandal involving former Lethbridge New Democrat MLA Shannon Phillips has been reprimanded.
A woman in Greater Sudbury, Ont., said "It doesn't get more Canadian than this" when she spotted a black bear dumpster diving at a Tim Hortons last month.
The Federation of Northern Ontario Municipalities (FONOM) is the latest organization to call on the Doug Ford government to re-open dialogue with an airline service that transports lower-income Canadians to crucial medical care far from home.
For decades, Mississauga First Nation has known that human remains from their land were at the Canadian Museum of History.
A Conservative MP from Newfoundland and Labrador says some small towns in his rural riding are overrun with crime, but police say they haven't received reports to that effect.
As millions in federal funding flow into a Labrador group whose claims of Inuit identity have been rejected by Indigenous organizations across Canada, a national Inuit leader worries the Liberal government is putting the rights of Indigenous Peoples at risk.
He may not have logged the fastest time or even gone the full distance, but residents of a Newfoundland town agree the goat who unexpectedly joined the local weekend half marathon was the event's undisputed champion.
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