June 30, 2020 / 6:20 AM / 12 days ago

BRIEF-Shell Sees Q2 Post-Tax Impairment Charges In Range Of $15 To $22 Bln

June 30 (Reuters) - Royal Dutch Shell PLC:

* SHELL SECOND QUARTER 2020 UPDATE NOTE

* SHELL - Q2INTEGRATED GAS PRODUCTION IS EXPECTED TO BE BETWEEN 880 AND 910 THOUSAND BARRELS OF OIL EQUIVALENT PER DAY

* SHELL - Q2 UPSTREAM PRODUCTION IS EXPECTED TO BE BETWEEN 2,300 AND 2,400 THOUSAND BARRELS OF OIL EQUIVALENT PER DAY.

* SHELL - AGGREGATE POST-TAX IMPAIRMENT CHARGES IN RANGE OF $15 TO $22 BILLION ARE EXPECTED IN Q2

* SHELL - Q2 INTEGRATED GAS LNG LIQUEFACTION VOLUMES ARE EXPECTED TO BE BETWEEN 8.1 AND 8.5 MILLION TONNES

* SHELL - IMPAIRMENT CHARGES ARE REPORTED AS IDENTIFIED ITEMS AND NO CASH IMPACT IS EXPECTED IN Q2

* SHELL - Q2 INTEGRATED GAS ADDITIONAL WELL WRITE-OFFS IN RANGE OF $250 TO $350 MILLION ARE EXPECTED COMPARED WITH Q2 2019

* SHELL - UPDATES RELATED TO RECEIVABLES, INVENTORY PROVISIONS EXPECTED TO HAVE NEGATIVE EARNINGS IMPACT OF $200 TO $400 MILLION COMPARED WITH Q2 2019

* SHELL - IMPAIRMENTS ARE EXPECTED TO HAVE A PRE-TAX IMPACT IN RANGE OF $20 TO $27 BILLION

* SHELL - Q2 INTEGRATED GAS DEFERRED TAX CHARGES ARE EXPECTED TO HAVE A NEGATIVE IMPACT ON EARNINGS IN RANGE OF $100 TO $200 MILLION

* SHELL - NO IMPAIRMENT CHARGE ON GOODWILL IS EXPECTED TO BE RECORDED IN Q2

* SHELL - Q2 INTEGRATED GAS TRADING AND OPTIMISATION RESULTS ARE EXPECTED TO BE BELOW AVERAGE

* SHELL - REVISED OUTLOOK FOR COMMODITY PRICES AND REFINING MARGINS COULD IMPACT OVERALL DEFERRED TAX POSITIONS

* SHELL - GEARING IS EXPECTED TO INCREASE BY UP TO 3% DUE TO IMPAIRMENTS

* SHELL - Q2 OIL PRODUCTS SALES VOLUMES ARE EXPECTED TO BE BETWEEN 3,500 AND 4,500 THOUSAND BARRELS PER DAY

* SHELL - IN INTEGRATED GAS NO CASH IMPACT IS EXPECTED IN Q2

* SHELL - AGGREGATE POST-TAX IMPAIRMENT CHARGES IN RANGE OF $15 TO $22 BILLION ARE EXPECTED IN Q2.

* SHELL - CFFO PRICE SENSITIVITY AT SHELL GROUP LEVEL IS STILL ESTIMATED TO BE $6 BILLION PER ANNUM FOR EACH $10 PER BARREL BRENT PRICE MOVEMENT

* SHELL - Q2 REFINERY UTILISATION IS EXPECTED TO BE BETWEEN 67% AND 71%

* SHELL - Q2 CHEMICALS MANUFACTURING PLANT UTILISATION IS EXPECTED TO BE BETWEEN 75% AND 79%

* SHELL - Q2 REALISED GROSS REFINING MARGINS ARE EXPECTED TO BE SIGNIFICANTLY LOWER COMPARED WITH Q1 2020

* SHELL - CORPORATE SEGMENT EARNINGS EXCLUDING IDENTIFIED ITEMS ARE EXPECTED TO BE A NET EXPENSE AT LOWER END OF $800 TO $875 MILLION RANGE FOR Q2

* SHELL - Q2 UPDATES RELATED TO RECEIVABLES PROVISIONS ARE EXPECTED TO HAVE A NEGATIVE EARNINGS IMPACT IN RANGE OF $200 TO $300 MILLION Source text for Eikon: Further company coverage:

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