Australia’s Origin Energy to book $840 million impairment on coronavirus hit
Australia’s top power and gas retailer expects to record non-cash charges of between A$1.16 billion and A$1.24 billion in its full-year accounts, it said in a statement to the stock exchange
New Delhi: Origin Energy said on Wednesday it will book impairments of about A$1.2 billion ($840.12 million) after tax, joining a number of global energy companies that have slashed the value of their assets after a coronavirus-induced drop in oil and gas prices.
Australia‘s top power and gas retailer expects to record non-cash charges of between A$1.16 billion and A$1.24 billion in its full-year accounts, it said in a statement to the stock exchange.
On Tuesday, Woodside Petroleum Ltd, another oil and gas major in the country, flagged impairments of $4.37 billion after tax.
