(ABM FN-Dow Jones) Shell shared some insights into its fourth quarter performance on Monday morning, pointing to stable production at Integrated Gas, but a sharply higher result at the trading arm and higher production at Upstream.
At Integrated Gas, Shell achieved production of 880,000 to 920,000 barrels per day in the fourth quarter, approximately equal to the level reported for the third quarter of 900,000 barrels.
The division’s underlying operating costs are estimated at $1.1 billion to $1.3 billion, the same as a quarter earlier, and trading and optimization results will be significantly higher than in the third quarter.
In the Upstream division, production in the fourth quarter was probably 1.83 to 1.93 million barrels per day. A quarter earlier that was 1.75 million.
At Upstream, underlying operating costs are estimated at $2.2 billion to $2.6 billion. In addition, expected taxes of $1.6 billion to $2.4 billion at Upstream include favorable movements in deferred tax positions.
In Marketing, results will be in line with the third quarter of 2023, with sales volumes of 2.35 to 2.75 million barrels per day.
In the chemicals branch, Shell expects a refinery utilization rate of 78 to 82 percent, which is lower than in the previous quarter due to planned maintenance in North America.
For the Renewables branch, the adjusted result will again fluctuate around zero. In addition, Shell reiterated that working capital is surrounded by uncertainties.
Door: ABM Financial News.
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Bron: ABM Financial News
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2024-01-08 07:42:21
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