Shell Forecasts Q1 Gas Output Drop to 880-920k boe/d, Trading Profit Surge
Shell forecasts Q1 gas output of 880,000–920,000 barrels of oil equivalent per day, down from 948,000 boe/d in Q4 due to Middle East conflict disruptions. The company expects oil trading and marketing earnings to be significantly higher than the previous quarter.
1. Production Forecast
Shell anticipates integrated gas production of 880,000–920,000 boe/d in the first quarter, down from 948,000 boe/d in Q4. The decline reflects disruption to volumes from its Qatar operations caused by fighting in the Gulf, while liquefied natural gas volumes remain broadly in line and upstream output dips slightly.
2. Profit Outlook
The company expects oil trading activities to deliver significantly stronger results than in the previous quarter, alongside a marked increase in marketing earnings. These projections set the stage for a robust performance ahead of full Q1 results, scheduled for release early next month.