Shell sees $2.3 billion charges, trims output estimate

(Reuters) – Royal Dutch Shell (L:) said on Friday it expects impairment charges of up to $2.3 billion in the fourth quarter and trimmed its forecast for quarterly oil production sales.

The company expects 6.5 million barrels of oil equivalent per day (boepd) to 7 million boepd for the fourth quarter, compared with its earlier estimate of 6.65 million boepd to 7.05 million boepd.

Shell also said 2019 capital expenditure is expected to be at the lower end of its guidance range of $24 billion to $29 billion.

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