A Shell tanker truck delivers fuel to a gas station operated by Royal Dutch Shell Plc. In Rotterdam, the Netherlands.
Jasper Juinen | Bloomberg | Getty Images
Royal Dutch Shell said Monday it would value oil and gas assets by $ 3.5 billion to $ 4.5 billion following a series of depreciations this year as it adjusts to a weaker outlook.
In an update ahead of February 4th quarter results, Shell said the post-tax tax is due in part to depreciation in its Appomattox field in the US Gulf of Mexico, the closure of refineries and liquefied natural gas (LNG) contracts. ).
He said some of the taxes involved in its restructuring will be recognized in 2021.
In October, Shell, the world’s largest LNG trader, rated the value of its LNG portfolio at just under $ 1 billion, focusing on its Australian Prelude pilot project.
This followed a $ 16.8 billion cut in the second quarter, which also included Prelude and a sharp drop in its price outlook.
On February 11, CEO Ben van Beurden will unveil Shell’s long-term strategy to abruptly reduce greenhouse gas emissions and expand its low-carbon energy business.
In its update, the Anglo-Dutch company also said it expects oil and gas production in its upstream division to be about 2.275 to 2.350 million barrels of oil equivalent per day, slightly higher than in the third quarter. .
Production was affected by the closure of platforms in the Gulf of Mexico due to hurricanes, as well as mild weather in northern Europe.
LNG liquefaction volumes are expected to be between 8 and 8.6 million tonnes.
The use of oil refineries is expected to be between 72% and 76% of capacity in the quarter, reflecting continued weak demand due to the coronavirus pandemic.