Shell's Quarterly Earnings to Be Hit by Impairment of Up to $4.5 Billion.

Shell has flagged potential impairment charges of between $2.5 billion and $4.5 billion for the fourth quarter, primarily due to its Singapore refining and chemicals hub. The company is currently looking to sell these assets, which include a 237,000 barrels per day refinery and a one million metric ton per year ethylene plant on Singapore's Bukom and Jurong islands. In addition, Shell's chemicals & products division is expected to post an adjusted earnings loss for the period.

January 08, 2024
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