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Oct. 6, 2022, 2:40 a.m. EDT

Shell sees rise in 3Q marketing results; fall in integrated gas trading

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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.

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

/zigman2/quotes/206428183/delayed
UK : U.K.: London
£ 2,365.50
-16.50 -0.69%
Volume: 8.30M
Dec. 2, 2022 4:35p
P/E Ratio
5.27
Dividend Yield
0.03%
Market Cap
£167.78 billion
Rev. per Employee
£3.46M
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/zigman2/quotes/205095589/composite
US : U.S.: NYSE
$ 57.72
-0.33 -0.57%
Volume: 3.51M
Dec. 2, 2022 4:00p
P/E Ratio
5.04
Dividend Yield
3.43%
Market Cap
$205.81 billion
Rev. per Employee
$4.39M
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