- Shell
- 07 April 2025 15:54:37
Source: Sharecast
The company said it now expected LNG output of 6.4 million - 6.8 million metric tonnes, down from a previous forecast of 6.6 million to 7.2 million. It added that gas division trading results would be in line with the previous quarter.
Shell also said it expects to book a $100m exploration well write-off. The company is looking to strip out a cumulative $5bn to $7bn a year by the end of 2028.
“In its usual teaser ahead of quarterly results Shell presented a mixed picture of performance as the shares continued to crater thanks to the impact of US tariffs on energy prices," said AJ Bell investment director Russ Mould.
“One of Shell’s key strengths is its dominant position in natural gas, so it will disappoint shareholders that this part of the business is not firing on all cylinders."
“Under chief executive Wael Sawan the company has been looking to up its game to catch up with its US peers and Shell has done better at keeping pace than its UK-listed peer BP."
“However, the danger is that anything investors take from today’s update and Shell’s previous progress could be overtaken by events by the time it puts its first-quarter numbers out in full at the beginning of May. If oil and gas prices remain under pressure then efforts to improve financial performance could prove as forlorn as trying to make a souffle on a camping stove in the middle of a storm.”
Reporting by Frank Prenesti for Sharecast.com