Shell lowered its gas production outlook for the fourth quarter and predicted significantly lower trading in its gas and chemicals divisions compared to the previous three months. This cautious outlook comes ahead of Shell's quarterly results and follows a period of exceeding analyst expectations. Analysts believe this update could lead to a significant reduction in earnings forecasts for the quarter.
Shell trimmed its gas production forecast for the fourth quarter and warned that trading in its gas and chemicals divisions would be “significantly lower” than in the previous three months. Wednesday’s trading statement, which comes ahead of Shell ’s quarterly results on January 30, struck a more muted tone following a run of quarters in which the FTSE 100 oil major has consistently beaten expectations.
Shell said it was trimming its gas production forecasts for the fourth quarter due to planned maintenance at its giant Pearl plant in Qatar. It now expects to report production of between 880,000 and 920,000 barrels a day compared with a previous estimate of 900,000 to 960,000 b/d. The world’s biggest liquefied natural gas trader is expecting LNG volumes to have fallen in the period compared with the previous three months, in part because of fewer cargoes in the period. It has forecast 6.
Shell Gas Production Trading Earnings Oil & Gas
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Transnistria Cuts Gas Supply Amidst Ukraine-Russia Gas DisputeThe breakaway region of Transnistria in Moldova has started cutting gas supplies, focusing on state institutions near the Moldovan border, in anticipation of the end of a gas transit deal between Russia and Ukraine.
Read more »
Kuwait's Economy Struggles as Oil Production Cuts PersistKuwait's economy faces a prolonged recession due to ongoing OPEC oil production cuts, highlighting the country's dependence on oil revenue and the urgent need for economic diversification.
Read more »
Iran Looks To Ramp Up Production In The World's Largest Gas ReservoirRecent meetings with Qatar, along with technical support from Chinese and Russian firms, aim to improve extraction practices at South Pars.
Read more »
Russia Cuts Off Gas Pipeline to Europe via UkraineThe last major gas pipeline route from Russia to Europe through Ukraine has been closed after a transit deal expired. This move will impact Europe's gas supply during the winter months.
Read more »
Transnistria Cuts Gas Supply to Moldova as Russia Halts Ukraine TransitTransnistria, a breakaway region in Moldova, has halted the flow of heating and hot water to households after Russia stopped natural gas transit through Ukraine. This move comes amidst a financial dispute between Moldova and Gazprom, with the former owing $700 million for past gas deliveries. The situation has heightened tensions as Moldova seeks alternative energy sources while grappling with Russian influence in the region.
Read more »
Transnistria Shuts Down Industrial Production Amidst Gas CrisisTransnistria, a breakaway region in Moldova, has halted all industrial production except for food production due to the cessation of Russian natural gas supplies. The region is also facing heating and hot water shortages. Russia's suspension of gas transit through Ukraine has put Transnistria in a difficult position, as it relies heavily on Russian gas for electricity generation.
Read more »