Shell (SHEL) Increases LNG Production Forecast Amid Declining Refining Margins

4 days ago

Shell (SHEL, Financial) saw its shares rise by 1.56%, reaching $69.58. The company announced expectations of a significant decline in refining margins for the third quarter due to reduced global demand, which also impacted oil product trading earnings. Despite these challenges, Shell has raised its liquefied natural gas (LNG) production forecast for the third quarter from the previous range of 6.8-7.4 million tonnes to 7.3-7.7 million tonnes, with trading performance expected to remain stable compared to the prior quarter.

Additionally, Shell has adjusted its upstream oil and gas production forecast, increasing it from an earlier estimate of 1.58-1.78 million barrels of oil equivalent per day to 1.74-1.84 million barrels per day.

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I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.

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