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Shell shares were down 4.33% at $90.07 during premarket trading on Wednesday.
Shell narrowed its Integrated Gas production outlook to 880,000-920,000 boe/d, down from prior guidance.
KEY POINTS
- Shell raised its LNG liquefaction volumes outlook due to LNG Canada ramp-up, despite outages in Qatar.
- Shell now expects refinery utilization of 95%-99%, higher than its previous 90%-98% guidance.
- Shell projected refining margins of $17 per barrel for the quarter, up from $14 in Q4.
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