Royal Dutch Shell Plc (RDS.B)

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Shell sees $2.3B charges, cuts output estimate

Dec. 20, 2019 4:00 AM ET|About: Royal Dutch Shell plc (RDS.A)|By: Yoel Minkoff, SA News Editor

Trimming its forecast for quarterly oil production sales, Royal Dutch Shell (RDS.A, RDS.B) sees impairment charges of up to $2.3B in the fourth quarter, based on the macroeconomic outlook.

2019 capital expenditure is also expected to be at the lower end of the company's guidance range of $24B to $29B.

Last week, Chevron said it expects to write down as much as $11B for assets including shale-gas holdings in the U.S., with natural gas prices on course for the lowest annual average in two decades.