Supply Chain

Shell Initiates Quarterly Outlook, Sees Higher Q3 Liquefied Natural Gas Output

By Donna Ahern
Shell Initiates Quarterly Outlook, Sees Higher Q3 Liquefied Natural Gas Output

Royal Dutch Shell on Monday introduced a quarterly outlook, forecasting higher liquefied natural gas (LNG) output and charges of up to $850 million for the third quarter.

Chief Financial Officer Jessica Uhl said that after discussions with investors, the Anglo-Dutch energy company would release outlooks ahead of quarterly results "to enhance disclosures and increase transparency".

The company reports third-quarter results on 31 October.

Shell in August said its second-quarter profit slumped to a 30-month low on weaker gas prices and refining margins, denting a steady recovery in recent years.

For the third quarter, Shell said:

  •  LNG production in the third quarter is expected to be between 930,000 and 960,000 barrels of oil equivalent per day (boed). Prodution in Q3 2018 was 924,000 boed
  • Oil and gas production is expected to be between 2.600 and 2.65 million boed. Production in Q3 2018 was 2.672 million boed
  • It sees refinery availability between 90% and 92%
  • Oil Products sales volumes is expected to be between 6.7 and 7.35 million barrels per day
  • Corporate earnings excluding identified items are expected to be a net charge between $700 to 850 million, excluding the impact of currency exchange rates

News by Reuters, edited by Checkout. Click subscribe to sign up for the Checkout print edition.


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