"Earnings are expected to soar to between $200m and $700m in the first quarter, from about $100m in the final quarter of last year, it predicted in a trading update on Wednesday."
"Oil and gas markets recorded historic price rises after Iran retaliated to US-Israeli aggression by throttling energy trade through the strait of Hormuz and launching a volley of strikes against key energy infrastructure across the Gulf region."
"The company expects its gas production to fall by about 5% to between 880,000 and 920,000 barrels of oil equivalent a day, compared with 948,000 in the fourth quarter."
"Shell's boss, Wael Sawan, warned last month that Europe could face a shortage of energy and fuel."
Shell anticipates a substantial increase in profits from its commodity trading desks in the first quarter, driven by recent market volatility linked to the Iran crisis. The surge in energy commodity markets is expected to enhance trading results, particularly in its renewable energy division. Earnings are projected to rise significantly from $100m in the previous quarter. However, lower gas production is expected due to the Middle East conflict affecting its Qatari assets, with a forecasted decline of about 5% in production.
Read at www.theguardian.com
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