Shell expects second-quarter integrated gas trading and optimization results to significantly exceed first-quarter levels. The chemicals and products unit, including the oil trading desk, anticipates strong results consistent with the previous quarter. The company also projects higher indicative refining and chemicals margins.
Conversely, Shell forecasts integrated gas production to fall between 610,000 and 650,000 barrels of oil equivalent per day. This marks a sharp decline from the 909,000 barrels per day produced in the first quarter.
The production drop follows the shutdown of the Pearl gas-to-liquids (GTL) facility in Qatar. Damage from the Middle East conflict caused the facility to cease operations.