"The revised forecast also marks a fall from 948,000 boed recorded in the final quarter of last year. The downgrade follows disruption at the Pearl GTL facility in Qatar, one of the world's largest gas-to-liquids plants, which was forced to halt production after it was struck in recent attacks."
"Despite the hit to production, Shell said trading in its chemicals and products division - including oil trading - is expected to be significantly stronger than the previous quarter, buoyed by surging energy prices."
"Benchmark Brent crude initially spiked to nearly $120 a barrel following the outbreak of hostilities, amid disruption to flows through the Strait of Hormuz, a key artery for global oil and gas supplies."
Shell has revised its gas production outlook for the first quarter of 2026, expecting output between 880,000 and 920,000 boed, down from 920,000 to 980,000 boed. This adjustment follows disruptions at the Pearl GTL facility in Qatar, which halted production due to recent attacks. Despite the production hit, Shell anticipates stronger trading in its chemicals and products division, driven by rising energy prices. Brent crude prices initially surged to nearly $120 a barrel but have since decreased to around $92.80, with an average of $81 per barrel for the quarter.
Read at London Business News | Londonlovesbusiness.com
Unable to calculate read time
Collection
[
|
...
]