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 /zigman2/quotes/206428183/delayed UK:SHEL -0.69% /zigman2/quotes/205095589/composite SHEL -0.57% 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.
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