Proactive Investors - Shell PLC (LON:SHEL) expects to report a "significantly" improved fourth quarter performance from gas trading but a downturn in chemicals.
The FTSE 100-listed oil major forecast production of 880 to 920 kboe/d in its integrated gas division and said trading and optimisation is expected to be significantly" higher than the third quarter due to seasonality and increased optimisation opportunities.
Production in the upstream business is forecast between 1,830 to 1,930 kboe/d in the quarter with exploration well-write offs expected to be $0.2 billion.
Marketing results are expected to be in line with the third quarter but trading and optimisation in the chemicals unit is expected to be significantly lower.
Shell (LON:RDSa) said this division is expected to make an adjusted earnings loss in the fourth quarter.
Renewables and Energy Solutions adjusted earnings are forecast between a loss of $0.3 billion to a profit of $0.3 billion with Corporate adjusted earnings predicted between a loss of $0.4 billion to $0.6 billion.