Shell takes $2.3 billion refining charge

摘要

London—Shell reported better-than-expected underlying quarterly earnings Wednesday, despite falling production and a taking $2.3 billion writedown to reflect the dire margins outlook for its refineries in Asia and Europe. Europe’s biggest oil company saw its shares jump after its first quarter earnings came in well ahead of forecasts, buoyed by higher US gas prices and strong earnings from its growing LNG business.