By Joe Hoppe

 

Shell PLC said Thursday that it expects integrated gas trading and optimization results to fall on quarter, but for market results to rise.

The energy group said production for the third quarter in Integrated Gas is anticipated to be between 890,000 and 940,000 barrels of equivalent oil per day. It said it expects a third-quarter pretax depreciation between $1.3 billion and $1.7 billion.

Trading and optimization results for its Integrated Gas segment are expected to be lower compared with the second quarter of 2022, as a result of seasonality and substantial differences between paper and physical realization in a volatile and dislocated market.

Upstream production is expected to be between 1.75 million and 1.85 million barrels of oil equivalent a day, and it expects a pretax depreciation between $3.0 billion and $3.4 billion.

Marketing results are expected to be higher than in the second quarter, with oil products sales volumes expected to reach between 2.35 million and 2.75 million barrels of oil a day, the company said.

 

Write to Joe Hoppe at joseph.hoppe@wsj.com

 

(END) Dow Jones Newswires

October 06, 2022 02:46 ET (06:46 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.
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