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oilmonster
Natural Gas April 07, 2025 07:41:52 AM

Shell Lowered Q1 Natural Gas Production Outlook

Anil
Mathews
OilMonster Author
Additionally, Shell expects to book a $100 million exploration write-off, the details are which were not disclosed.
Shell Lowered Q1 Natural Gas Production Outlook

SEATTLE (Oil Monster): Shell has reduced its natural gas output forecast for the first quarter of 2025 in a trading update that was made public today.

The business blamed the anticipated output decline on Australia's unfavorable weather. Shell previously announced in February that it had to delay some loading from its Prelude floating LNG project in the Western Australia region due to difficult weather conditions.

The company anticipates producing between 6.4 million and 6.8 million metric tons of LNG in the first quarter. This is less than the 6.6 million to 7.2 million tons that were previously predicted. In the fourth quarter of 2024, Shell produced 7.1 million tons of natural gas.

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In contrast to the earlier estimate of 1.75 million to 1.95 million barrels of oil equivalent per day (boed), it has reduced the entire oil and gas output forecast to between 1.79 million and 1.89 million boed in the first quarter. Furthermore, Shell anticipates scheduling an exploration write-off of $100 million; the specifics were not revealed.

The business anticipates that the trading results for its gas division will be consistent with those of the previous quarter. The company's marketing division's quarterly performance are probably going to suffer from the specialty products and services division's smaller contribution.

The quarterly results are scheduled to be released by Shell on May 2, 2025.


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