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Shell cuts gas, LNG guidance for second quarter
(Sharecast News) - Shell was trading in the red on Monday after the energy major cut the top end of its guidance for gas and liquified natural gas production in the second quarter. Ahead of its full second-quarter results on 31 July, Shell said integrated gas volumes would be 900,000-940,000 barrels of oil equivalent per day in the three months to 30 June.
This compares with earlier forecasts of 890,000-950,000boed and the 927,000 boepd produced in the first quarter.
LNG liquefaction volumes are expected total 6.4-6.8m metric tonnes in the second quarter, down from initial guidance of 6.3m-6.9m tonnes given at the time of its first-quarter results.
Meanwhile, production in its Upstream division was guided to 1.66m-1.76m boepd, down from 1.86m in the first quarter due to scheduled maintenance and the complete sale of the Shell Petroleum Development Company of Nigeria.
Shares were 3.2% lower at 2,544.5p by 0827 BST.
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