Shell Sees Stronger LNG Volumes and Oil Product Performance in Q1
(Reuters) — Shell expects higher LNG output in the first quarter after outages at its Australian plants last year as well as stable earnings from LNG trading, it said on Thursday.
Shell, which recorded a record $40 billion profit last year, said in an update ahead of results due on May 4 that it expected first-quarter liquefaction volumes of 7 to 7.4 million tonnes, up from 6.8 million tonnes in the previous quarter.
Its oil products division also likely boosted earnings through a "significantly higher" trading performance, the world's biggest fuel retailer said.
It expects to have paid between $2.6 and $3.4 billion in tax for the first quarter, down from $4.4 billion.
Its renewables unit is set to contribute $100 to $700 million to adjusted earnings, compared with $300 million in the last quarter of 2022.
Related News
Related News
- Enbridge Plans 86-Mile Pipeline Expansion, Bringing 850 Workers to Northern B.C.
- Intensity, Rainbow Energy to Build 344-Mile Gas Pipeline Across North Dakota
- U.S. Moves to Block Enterprise Products’ Exports to China Over Security Risk
- 208-Mile Mississippi-to-Alabama Gas Pipeline Moves Into FERC Review
- Court Ruling Allows MVP’s $500 Million Southgate Pipeline Extension to Proceed
- U.S. Pipeline Expansion to Add 99 Bcf/d, Mostly for LNG Export, Report Finds
- A Systematic Approach To Ensuring Pipeline Integrity
- 275-Mile Texas-to-Oklahoma Gas Pipeline Enters Open Season
- LNG Canada Start-Up Fails to Lift Gas Prices Amid Supply Glut
- Kinder Morgan Gas Volumes Climb as Power, LNG Demand Boost Pipeline Business
Comments