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Shell PLC on Friday updated shareholders on its third quarter outlook.
The London-based oil major said it expects trading and optimisation in its Integrated Gas arm to be higher compared to the second quarter of 2023. It said the same about its Chemicals & Products division. In Marketing, it expects results to be similar year-on-year.
Shell expects output at Integrated Gas to be between 880,000 and 920,000 barrels of oil equivalent per day, down from 970,000 a quarter ago and from 944,000 a year ago.
For its renewables unit, the company anticipates between an adjusted loss of $300 million and an adjusted profit of $300 million in the third quarter, compared to an adjusted profit of $228 million in the second quarter and $383 million in the third quarter of 2022.
For its corporate unit, it eyes an adjusted loss between $400 and $600 million in the third quarter, narrowed from $654 million in the second quarter and compared to $571 million a year prior.
Shell shares were 1.0% higher at 2,557.50 pence each on Friday morning in London.
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