Shell sees considerably decrease Q1 LNG buying and selling outcomes – Instances of India

LONDON: Shell mentioned on Friday it expects considerably decrease outcomes from its liquefied pure fuel buying and selling enterprise within the first quarter of 2024 in contrast with the earlier three months.
In an replace forward of quarterly outcomes on Could 2, Shell additionally mentioned its oil buying and selling outcomes are anticipated to be considerably greater than the final quarter of 2023.
Shell, the world’s largest oil and fuel dealer, mentioned its LNG volumes are anticipated between 7.2 million and seven.6 million metric tons within the first three months of 2024, in contrast with 7.1 million tons within the earlier quarter.
Practically a 3rd of Shell’s This fall revenue got here from the $2.4 billion it made in LNG buying and selling because it captured robust demand forward of winter, three sources near the corporate instructed Reuters in February.
Shell shares had been up 0.29% in the beginning of buying and selling in London.
Shell expects a smaller loss in its chemical substances enterprisewhich has been underneath heavy stress resulting from weak world demand, Chemical substances revenue margins are anticipated to rise to $151 a ton from $125 a ton within the earlier quarter.
The British vitality big, which reported a $28 billion revenue for 2023, expects to take a write-off on exploration of about $600 million, primarily in Albania.