SHEL Updates 4Q23 Outlook, Now Sees Integrated Gas Production Of 880-920 Thousand boe/d (Prior 870-930); Upstream Production Of 1,830-1,930 Thousand boe/d. (Prior 1,750-1,950); Marketing Sales Volumes Of 2,350-2,750 Thousand b/d (Prior 2,250-2,750)
Portfolio Pulse from Benzinga Newsdesk
SHEL has updated its 4Q23 outlook, adjusting its production and sales volume estimates. Integrated Gas production is now expected to be 880-920 thousand boe/d, slightly up from the previous range. Upstream production estimates have been narrowed to 1,830-1,930 thousand boe/d, indicating a potential increase at the lower end. Marketing sales volumes are also expected to increase, with the new range being 2,350-2,750 thousand b/d. Additionally, refinery and chemicals utilisation rates have been updated to 78%-82% and 60%-64%, respectively.
January 08, 2024 | 7:32 am
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SHEL has updated its 4Q23 outlook with increased estimates for Integrated Gas and Upstream production, as well as Marketing sales volumes. Refinery and chemicals utilisation rates have also been adjusted.
The updated outlook suggests a positive adjustment in production and sales volumes, which could lead to increased revenue and potentially a positive impact on SHEL's stock price in the short term. The adjustments in refinery and chemicals utilisation also indicate improved operational efficiency.
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