Shell LNG Sales Growth Expected

Shell expects better liquid natural gas sales figures in the second quarter, although the situation in the Middle East is negatively impacting the company's gas production.

According to the company's preliminary data, gas production in the second quarter will decline compared to the first quarter. The main reason is the ongoing conflict in the Middle East, which has reduced supply volumes from Qatar. Despite this, Shell has slightly increased its LNG sales forecast and now expects 7.4-7.8 million tons.

The company expects better results in the gas trading direction. Performance has also improved in oil products and chemical products. The margin from oil refining has increased to $20 per barrel, while the margin on chemical products reaches $240 per ton, though Shell notes that due to price fluctuations in the market, final profits may fall short of the forecast.

From a financial perspective, Shell expects an improvement of $1-6 billion in the second quarter. Shell will publish final results on July 30.

Source: Investing.com