RTTNews.com : MAR 31, 2020(RTTNews) – Royal Dutch Shell plc (RDS-B, RDSB.L, RDSA.L, RDS-A) Tuesday said it expects to record post-tax impairment charges in the range of $400 million to $800 million for the first quarter, based on changes to oil price outlook for 2020.
In its first-quarter trading update, the company said it expects Integrated Gas production to be between 920 and 970 thousand barrels of oil equivalent per day. LNG liquefaction volumes are expected to be between 8.8 and 9.2 million tonnes.
In the Upstream, production for the quarter is expected to be between 2,650 and 2,720 thousand barrels of oil equivalent per day.
In Oil Products, refinery utilization is expected to be between 80 percent and 84 percent with availability expected to be between 93 percent and 96 percent. Refining margins are expected to be weaker compared with the fourth quarter 2019.
Further, chemicals manufacturing plant utilisation is expected to be between 82 percent and 87 percent and availability is expected to be between 94 percent and 97 percent. The company projects chemicals sales volumes to be between 3,700 and 4,000 thousand tonnes.
Regarding COVID-19, the company said it has seen and expect significant uncertainty with macro-economic conditions with regards to prices and demand for oil, gas and related products. Recent global developments and uncertainty in oil supply have caused further volatility in commodity markets.
According to the company, the impact of the dynamically evolving business environment on first quarter results is being primarily reflected in March with a relatively minor impact in the first two months.
Shell said its liquidity remains strong, and has a new $12 billion revolving credit facility commitment. Together with cash and cash equivalents of about $20 billion, available liquidity will rise to more than $40 billion.
Shell Monday announced that it will not proceed with an equity interest in the proposed Lake Charles LNG project. Accordingly, Energy Transfer will take over as the project developer.
Lake Charles LNG is a proposed 50/50 project between Shell and Energy Transfer that seeks to convert Energy Transfer’s existing import terminal to an LNG export facility in Lake Charles, Louisiana.
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Royal Dutch Shell conspired directly with Hitler, financed the Nazi Party, was anti-Semitic and sold out its own Dutch Jewish employees to the Nazis. Shell had a close relationship with the Nazis during and after the reign of Sir Henri Deterding, an ardent Nazi, and the founder and decades long leader of the Royal Dutch Shell Group. His burial ceremony, which had all the trappings of a state funeral, was held at his private estate in Mecklenburg, Germany. The spectacle (photographs below) included a funeral procession led by a horse drawn funeral hearse with senior Nazis officials and senior Royal Dutch Shell directors in attendance, Nazi salutes at the graveside, swastika banners on display and wreaths and personal tributes from Adolf Hitler and Reichsmarschall, Hermann Goring. Deterding was an honored associate and supporter of Hitler and a personal friend of Goring.
Deterding was the guest of Hitler during a four day summit meeting at Berchtesgaden. Sir Henri and Hitler both had ambitions on Russian oil fields. Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat.
IN JULY 2007, MR BILL CAMPBELL (ABOVE, A RETIRED GROUP AUDITOR OF SHELL INTERNATIONAL SENT AN EMAIL TO EVERY UK MP AND MEMBER OF THE HOUSE OF LORDS: 
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A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
