Shell announced this in its fourth-quarter update note on Wednesday. "Trading and optimization results are expected to be significantly lower than Q3 2024, driven by the (non-cash) impact of
The company’s liquefaction volumes increased by 8 percent compared to the prior quarter, mainly due to higher feedgas supply in Nigeria and Trinidad and Tobago.
Gas production
Shell expects integrated gas production to reach 880–920 kboe/d in the fourth quarter, while upstream production is expected to be at 1,790-1,8’0 kboe/d.
The new gas production outlook reflects scheduled maintenance at Pearl GTL in Qatar in the fourth quarter of 2024.
Shell previously expected gas production to be between 900 – 960 kboe/d and upstream production to be between 1,750 – 1,950 kboe/d.
The company also said in the updated that net debt is expected to include “$4 – 6 billion of new lease liabilities recognized in Q4 2024, including the recognition of the LNG Canada pipeline liability.”
Shell’s results are scheduled to be published on January 30, 2025.
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