Shell, one of the world's largest oil companies, has warned that the low price of oil could reduce the value of its assets by up to $22bn (£17.9bn).
It said it expects oil to change hands at $60 per barrel in the long term and to be priced at $35 this year and $40 next year.
Shell follows rival BP in telling investors that oil assets are not worth as much as they used to be.
BP told investors this month its assets could be worth $17.5bn less.
Countries across the globe have ordered people to stay indoors and not travel as a result of the coronavirus pandemic, which has caused a slump in demand for oil.
As a result, the cost of oil fell to less than $20 a barrel at the peak of the crisis, less than a third of the $66 it cost at the start of the year.
For a brief period buyers were actually paid to take delivery of crude oil amid a shortage of storage.
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Atlantis Viewpoint
"Oil companies such as Shell and BP are trying to reform themselves as energy firms, dabbling in greener energy and attempting to wean investors off the large dividends they traditionally pay."
Oil companies should transition to clean energy or die off.
