Shell: unsurprising trading update, but share rises

(CercleFinance.com) - Shell shares edged up in London on Friday following a Q4 trading update that did not contain any major surprises.


The energy giant said that production from its integrated gas business should be between 900,000 and 940,000 barrels per day in Q4, just above a consensus of around 930,000.

In liquefied natural gas (LNG), its quarterly production is expected to be between 6.6 and 7 million tonnes in the quarter, although here below the market's forecast of 7.4 million tonnes.

In upstream, production is expected to be between 1.82 and 1.92 million barrels of oil per day, below the consensus of 1.98 million.

In chemicals, its indicative refining margin is estimated at 19 dollars per barrel, compared with 15 dollars in Q3, in line with analysts' estimates.

In London, Shell shares were up about 1.5% on Friday morning after these announcements.


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