Shell revises Q2 forecast, expects production, sales ranges

(MENAFN) British multinational oil and gas corporation Shell has revised its second-quarter projections, anticipating specific outcomes across various operational segments. The company forecasts integrated gas production to fluctuate between 940,000 barrels of oil equivalent per day (boepd) and 980,000 boepd during the quarter. Meanwhile, trading and improvement results are expected to align with the second quarter of 2023 but may show a decline compared to the first quarter of 2024, influenced by seasonal factors.

Shell projects an upward trajectory in quarterly production, estimating a range between 1,720,000 boepd and 1,820,000 boepd. This forecast underscores the company's strategic focus on enhancing production levels to meet demand amid market dynamics. Additionally, in marketing activities, Shell anticipates quarterly sales volumes to span between 2,700,000 boepd and 3,100,000 boepd, reflecting its ongoing efforts to optimize distribution channels and capitalize on market opportunities.

The revised forecasts highlight Shell's proactive approach in navigating operational challenges and optimizing performance across its diverse portfolio. By adjusting projections based on market conditions and operational efficiencies, Shell aims to sustain growth momentum while adapting to seasonal variations and industry dynamics impacting its global operations.

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