On Thursday, Shell (SHEL.L) said it expected stronger LNG output in the first quarter after disruptions at its Australian plants last year and stable LNG trading profitability.
Shell, which made a record $40 billion profit last year, said in an update ahead of results on May 4 that it projected first-quarter liquefaction volumes of 7 to 7.4 million tonnes, up from 6.8 million tonnes.
The world’s largest gasoline retailer said its oil products division’s “much stronger” trade performance benefited profitability.
It expects to pay $2.6–$3.4 billion in taxes for the first quarter, down from $4.4 billion.
Compared to $300 million in the fourth quarter of 2022, its renewables segment will provide $100 to $700 million in adjusted earnings.
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