Shell (SHEL) Provides Q2 Guidance: Warns of Up to $2B Hit
SHELShell Global(SHEL) ZACKS·2024-07-08 21:31

Shell plc (SHEL) expects a $2 billion impairment in the second quarter of 2024 after pausing its Rotterdam biofuels facility and divesting its Singapore refinery. Rotterdam's construction halt leads to a $600 million to $1 billion non-cash charge, while Singapore sees $600 million to $800 million in charges.Now, let’s dig into some other segment-wise selected items from the London-based supermajor’s release on Friday.UpstreamAccording to the latest update, Shell’s upstream production fell 5.4% on a sequenti ...