...

Shell may need measures to reduce oil, gas production

Oil&Gas Materials 30 July 2020 11:06
Shell may need measures to reduce oil, gas production

BAKU, Azerbaijan, July 30

By Leman Zeynalova – Trend:

Due to demand or regulatory requirements and/or constraints in infrastructure, Shell may need to take measures to curtail or reduce oil and/or gas production in the third quarter of 2020, Trend reports citing Shell.

LNG liquefaction as well as utilisation of refining and chemicals plants and similarly sales volumes could be impacted, reads a report released by Shell.

ntegrated Gas production is expected to be approximately 820 - 880 thousand boe/d. LNG liquefaction volumes are expected to be approximately 7.6 - 8.2 million tonnes. Due to price-lag in oil-linked LNG term contracts, the impact of low oil prices is expected to become more significant in the third quarter.

Upstream production is expected to be approximately 2,100 - 2,400 thousand boe/d. Refinery utilisation is expected to be approximately 68 percent - 76 percent. Oil Products sales volumes are expected to be approximately 4,000 - 5,000 thousand b/d.

Chemicals manufacturing plant utilisation is expected to be approximately 78 percent – 88 percent. Chemicals sales volumes are expected to be approximately 3,600 - 3,900 thousand tonnes.

Corporate Adjusted Earnings are expected to be a net expense of approximately $800 - 875 million in the third quarter 2020 and a net expense of approximately $3,200 - 3,500 million for the full year 2020. This excludes the impact of currency exchange rate effects.

---

Follow the author on Twitter: @Lyaman_Zeyn

Tags:
Latest

Latest