By Matteo Castia

 

Royal Dutch Shell PLC said Tuesday that it has encountered and expects to continue seeing "significant uncertainty" associated with the coronavirus pandemic and the recent volatility of oil prices, but that it retains strong liquidity to navigate the crises.

The energy conglomerate said it expects a $400 million to $800 million impairment charge in the first quarter coming from its oil-price changes.

The company said refinery margins are seen to be lower quarter-on-quarter too, but that marketing margins remain strong despite the pandemic. It also said it sees reduced margins from upstream due to "weak macro environment."

Shell said dividend payments from joint ventures and associates are expected to be lower than in other quarters, as per their usual seasonality.

Shell said it can leverage a total of $40 billion liquidity.

 

Write to Matteo Castia at matteo.castia@dowjones.com

 

(END) Dow Jones Newswires

March 31, 2020 02:39 ET (06:39 GMT)

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