LONDON (Reuters) - Shell (LON:SHEL) trimmed its liquefied natural gas production outlook for the fourth quarter on Wednesday and said oil and gas trading results are expected to be significantly lower than in the third quarter.
In a trading update ahead of Jan. 30 full-year results, the British company also said it would take $1.5 billion to $3 billion of non-cash, post-tax impairments, including up to $1.2 billion in its renewables division.
Shell last month said it was stepping back from new offshore wind investments and is splitting its power division following an extensive review of the business, part of CEO Wael Sawan's drive to focus on the most profitable parts.
The world's largest LNG trader said trading results for the division in the fourth quarter would be significantly lower than in the previous three months due to non-cash expiry of hedging contracts.
Trading in its chemicals and oil products division was also expected to be significantly lower quarter-on-quarter due to lower seasonal demand.
Shell does not provide earnings figures for its trading operations.
The company trimmed its LNG production forecast for the quarter to 6.8-7.2 million metric tons, from a previous forecast of 6.9-7.5 million tons, citing lower feedgas deliveries into liquefaction facilities and fewer cargo deliveries.
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TOKYO (Reuters) -A global bond rout eased on Thursday and the dollar held steady near its highest levels in more than a year, although stocks continued to fall with most Asian indexes down on the day.
Smiletradefx β Japan stocks were lower after the close on Thursday, as losses in the Insurance, Financial Services and Mining sectors led shares lower. At the close in Tokyo, the Nikkei 225 lost 0.87%.
Smiletradefx -- Most Asian stocks fell on Thursday amid increasing conviction that U.S. interest rates will fall at a slower pace this year, while weak inflation data from China also added to concerns over slowing growth.
