Shell flags Q4 writedown of up to US$4.5bil, mainly on Singapore assets

SHELL on Monday flagged impairment charges of about $2.5 billion to $4.5 billion for the fourth quarter, mainly related to the Singapore refining and chemicals hub the oil major is looking to sell.

The assets include a 237,000 barrels per day (bpd) refinery and a one million metric ton per year (tpy) ethylene plant on Singapore's Bukom and Jurong islands, for which it had announced a strategic review last year.