(Finance) – The oil company Shell has reported impairment charges of approximately $2.5 billion to $4.5 billion for the fourth quarter of 2023, mainly linked to the chemical and refining hub of Singapore (which it is trying to sell). This can be read in the operational update, which precedes the publication of the complete results on February 1st.
The company plans a gas production integrated of 880-920,000 boe/d with opex of $1.1-1.3 billion, with Trading & Optimization expected to be significantly higher than Q3 2023 due to seasonality and increased optimization opportunities.
Production Upstream is forecast at 1.83-1.93 million boe/d with opex of $2.2-2.6 billion. The results of Marketing are expected to be in line with those of the previous quarter.
In the field Chemicals & Products, where there is underlying opex of $2.8-3.2 billion, Trading & Optimization is believed to be significantly lower than Q3; the segment and Chemicals & Products will report an adjusted loss in the fourth quarter.