London — Oil major Shell warned Friday of lower earnings and underwhelming output in the fourth quarter of 2019, weighed down by a weaker economic outlook as well as challenging trading conditions at its gas trading division, adding that it expects impairment charges of up to $2.3 billion. Receive daily email alerts, subscriber notes & personalize your experience. Register Now “Based on the macro outlook, post-tax impairment charges in the range of $1.7-2.3 billion are expected for the quarter,” the company said as it released a partial snapshot of results ahead of its 2019 earnings statement. It did not specify which assets it was referring to. Shell said it expects its upstream production to range between 2.775 million-2.825 million b/d of oil equivalent in the fourth quarter of 2019, fairly stable compared with the 2.809 million boe/d in the fourth quarter of last year. The warning does however contrast […]