BAKU, Azerbaijan, July 29
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 Q3 2021, Trend reports with reference to the company.
“As a result of the COVID-19 pandemic, there continues to be significant uncertainty surrounding how quickly macroeconomic conditions will recover, and the associated impacts on demand for oil, gas and related products. The third quarter 2021 outlook provides ranges for operational and financial metrics based on current expectations, but these are subject to change in the light of evolving market conditions. 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, LNG liquefaction as well as utilisation of refining and chemicals plants and similarly sales volumes could be impacted. Such measures will likely have a variety of impacts on our operational and financial metrics.
Due to the impact of maintenance activities, Integrated Gas production is expected to be approximately 870 - 920 thousand boe/d and LNG liquefaction volumes are expected to be approximately 7.4 - 8.0 million tonnes. Upstream production is expected to be approximately 2,100 - 2,250 thousand boe/d. Refinery utilisation is expected to be approximately 73 – 81 percent. Oil Products sales volumes are expected to be approximately 4,300 - 5,300 thousand b/d. Chemicals manufacturing plant utilisation is expected to be approximately 77 – 85 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 $600 - $700 million in the third quarter 2021 and a net expense of approximately $2,300 - $2,600 million for the full year 2021. This excludes the impact of currency exchange rate effects,” said Shell.
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