# Shell said weaker first-quarter gas output and a hit to short-term liquidity would be offset partly by stronger oil trading.

*business · news · 2026-04-08 · The Manila Times*

## Key points

- Shell's Qatari Pearl gas plant was attacked and repairs may take about a year.
- Shell's working capital dropped to between minus $10 billion and minus $15 billion this quarter.
- Shell lowered its first-quarter integrated gas production guidance to 880,000–920,000 boed.
- Shell expects net debt to rise by $3 billion to $4 billion due to shipping lease variables.
- Adjusted earnings in Shell's renewables unit are projected to rise to up to $700 million.

**Companies:** Shell
**Countries:** United States, Israel, Iran, Qatar, Australia, Canada

[Read the full story on The Manila Times](https://www.manilatimes.net/2026/04/09/business/foreign-business/shell-flags-lower-gas-output-capital-outflow-amid-iran-conflict-but-sees-oil-trading-boost/2316702)

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