December 20, 2019 / 7:52 AM / a month ago

Shell sees $2.3 billion charges, trims output estimate

FILE PHOTO: The logo of Royal Dutch Shell is seen at a petrol station in Sint-Pieters-Leeuw, Belgium January 30, 2019. REUTERS/Yves Herman

(Reuters) - Royal Dutch Shell said on Friday it expects impairment charges of up to $2.3 billion in the fourth quarter and trimmed its forecast for quarterly oil production sales.

The company expects 6.5 million barrels of oil equivalent per day (boepd) to 7 million boepd for the fourth quarter, compared with its earlier estimate of 6.65 million boepd to 7.05 million boepd.

Shell also said 2019 capital expenditure is expected to be at the lower end of its guidance range of $24 billion to $29 billion.

Reporting by Pushkala Aripaka in Bengaluru; Editing by Subhranshu Sahu

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