Shell (SHEL) Increases LNG Production Forecast Amid Declining Refining Margins
SHELShell Global(SHEL) Gurufocus·2024-10-07 22:31

Shell (SHEL, Financial) saw its shares rise by 1.56%, reaching $69.58. The company announced expectations of a significant decline in refining margins for the third quarter due to reduced global demand, which also impacted oil product trading earnings. Despite these challenges, Shell has raised its liquefied natural gas (LNG) production forecast for the third quarter from the previous range of 6.8-7.4 million tonnes to 7.3-7.7 million tonnes, with trading performance expected to remain stable compared to th ...