UK major Shell to take impairment charges on Singapore assets amid forecasts of gas and LNG trading boosts
UK major Shell expects to take non-cash impairment charges of between $2.5 billion to $4.5Bln for the fourth quarter, mainly related to the Singapore refining and chemicals hub that Shell is seeking to sell off, though quarterly income attributable to shareholders was expected to remain at around $7 billion.
Profits fall for Shell but cash flow and LNG sales volumes remain high amid positive forecast for rest of year
UK major Shell reported much reduced third-quarter profits of $6.2 billion, lower than the $9.45Bln of profits returned in the same three months of 2022 as natural gas prices dropped, while quarterly sales of liquefied natural gas were still over 16 million tonnes.
Shell gives pre-earnings updates on LNG as well as impacts of Texas winter storm on several divisions
Royal Dutch Shell, one of the largest LNG and natural gas upstream players, has updated its expectations for first-quarter earnings, including the negative impact of the Texas freeze-up and the effects of spot LNG price volatility and other factors.
