LONDON (dpa-AFX) - Shell Plc (SHEL), the British oil and gas major, on Wednesday revised down its guidance for the fourth-quarter integrated gas and LNG liquefaction volumes.
For the fourth quarter, the company now expects integrated gas production of 880 kboe/d to 920 kboe/d, compared with prior outlook of 900 kboe/d to 960 kboe/d. This is due to scheduled maintenance at Pearl GTL in Qatar.
LNG liquefaction volumes are now anticipated to be 6.8 million tons to 7.2 million tons against earlier guidance of 6.9 million tons to 7.5 million tons. This is as a result of lower feedgas, and fewer cargos due to the timing of liftings.
For the third quarter, Shell had reported integrated gas output of 941 kboe/d, with LNG liquefaction volume of 7.5 million tons.
Further, the oil major noted that its fourth-quarter trading and optimization results are expected to be significantly lower than the third quarter, due to the non-cash impact of expiring hedging contracts.
The Group's fourth-quarter exploration well write-offs are expected to be around $0.3 billion.
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