By Christian Moess Laursen


Shell expects to book up to $2 billion in post-tax impairments, denting second-quarter profits, while trading in its core gas division is set to fall on quarter.

The British energy giant said Friday that it expects to book an impairment after tax of between $1.5 billion and $2.0 billion due to halting construction of its biofuels facility in Rotterdam, Netherlands, announced on Wednesday, as well as the divestment of its chemicals plant in Singapore.

In addition, Europe's largest energy company expects trading results from its core integrated-gas segment to be lower than in the first quarter, when the unit booked $3.68 billion in adjusted earnings.


Write to Christian Moess Laursen at christian.moess@wsj.com


(END) Dow Jones Newswires

07-05-24 0228ET