Oil giant Shell predicts tax impairments of up to $3bn in Q2 

London/Amsterdam, Jul. 7, (dpa/GNA) - The Anglo-Dutch oil company, Shell Plc, projected on Friday post-tax impairments of up to $3 billion for the second quarter. 

The firm said the 1% increase in the discount rate used for impairment testing was driving the prediction. 

In the integrated gas segment, trading & optimization are expected to be significantly lower sequentially, due to seasonality and fewer optimization opportunities. 

Production for the quarter is expected to be in the range of 950 kboe/d to 990 kboe/d, compared to the first quarter’s 970 kboe/d. LNG liquefaction volumes would be 6.9 MT to 7.3 MT, compared to 7.2 MT in the preceding quarter. 

In Upstream, second-quarter production is expected to be 1,650 kboe/d to 1,750 kboe/d, compared to 1,877 kboe/d in the first quarter, reflecting scheduled maintenance, including assets in the Gulf of Mexico, Norway, Malaysia and Brazil. 

Marketing sales volumes would be 2,400 kb/d to 2,800 kb/d, compared to 2,446 kb/d in the first quarter. 

Shell is scheduled to release its second-quarter results on July 27. In London, Shell shares were trading at 2,255.50 pence, down 0.40%. 

GNA