BAKU, Azerbaijan, Jan.7
By Leman Zeynalova – Trend:
Oil products sales volumes by Royal Dutch Shell are expected to be between 4.0 and 5.0 million barrels per day in Q4 2021, Trend reports with reference to the company.
“Marketing results are expected to be in line with the fourth quarter 2020 but lower compared with the third quarter 2021 due to seasonal trends, the demand impact due to the Omicron virus and foreign exchange impacts in Turkey. The indicative refining margin is around $6.55/bbl, compared to $5.7/bbl in the third quarter 2021,” said Shell in the fourth quarter update note.
The company says that refinery utilization is expected to be between 69 percent and 73 percent, in line with the third quarter 2021.
“However, the realized refining margins are expected to be adversely impacted by the extended turnaround in Scotford and Hurricane Ida recovery efforts in Norco. Oil products trading and optimization results are expected to be significantly lower than the third quarter 2021.
Underlying Opex is expected to be between $3.4 and $3.8 billion,” reads the report.
As for the Upstream sector, Shell says production is expected to be between 2,150 and 2,250 thousand barrels of oil equivalent per day.
“Underlying Opex will be between $2.7 and $3.0 billion. Pre-tax depreciation is expected to be between $2.8 and $3.1 billion. Taxation charge will amount to $2.4-$2.8 billion.Tax paid is expected to be between $1.1 and $1.4 billion,” the report reads.
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