8/103 sources · 2 publishersUpdated Oct 8, 17:26 UTC
Shell flags $300 M Q3 write‑off and raises gas output guidance
Shell said it will record a $300 million impairment in the third quarter because of problems with upstream exploration wells. The company now projects upstream output of 1.735‑1.835 million barrels of oil equivalent per day and expects integrated gas production to climb to between 740,000 and 780,000 barrels of oil equivalent per day. LNG liquefaction is forecast at 7.2‑7.6 million tonnes, and the CEO noted that Middle‑East oil flows have recovered to roughly 80% of pre‑war levels.
Why it matters
The write‑off and higher gas guidance could lower Shell’s Q3 earnings and influence analyst expectations, as the company indicated in its update.
Key facts
- 1Shell expects a $300 million write‑off in Q3 due to upstream exploration well issues. seekingalpha.com
- 2Upstream production is forecast at 1.735‑1.835 million barrels of oil equivalent per day for the quarter. seekingalpha.com
- 3Integrated gas output is projected at 740,000‑780,000 barrels of oil equivalent per day. tradingview.com
- 4LNG liquefaction volumes are expected to be 7.2‑7.6 million tonnes. tradingview.com
- 5CEO Wael Sawan said Middle‑East oil flows have rebounded to about 80% of pre‑war volumes. tradingview.com
Summary written by AlphAI from 3 of 3 sources. Not investment advice. Figures are as stated by the linked sources.