Shell keeps LNG outlook, warns of chemicals losses
Shell PLC narrowed its projected range for fourth-quarter liquefied natural gas (LNG) production but kept it within prior guidance, the company said Thursday. Shell expects to produce between 7.5 million and 7.9 million tons of LNG, compared with its earlier forecast of 7.4 million to 8 million tons.
The energy giant also warned that its chemicals and products segment will post below break-even earnings in the fourth quarter. Margins are expected to fall to $140 per ton from $160 in the previous quarter, affected by a tax adjustment and weaker trading results, News.Az reports, citing Reuters.
Shell forecast its refining margin to rise to $14 per barrel, up from $12 in the third quarter, reflecting stronger operational performance despite challenges in chemicals.
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