Shell: operating targets tightened for Q1

(CercleFinance.com) - On Friday, Shell tightened several of its performance targets for Q1, an announcement that was greeted with little excitement on the London Stock Exchange.


The energy company now expects LNG deliveries of between 7.2m and 7.6m tonnes in Q1, compared with 7m to 7.6m previously.

In gas trading, however, the group says it expects results to be 'significantly lower' than the exceptional results recorded in Q4 2023.

Upstream oil and gas production is expected between 1.82m and 1.92m boe per day, above analysts' forecasts.

Downstream refining margins are expected to be $12 per barrel, again above market projections.

Following this better-than-expected business update, Shell shares were little changed (+0.1%) on Friday morning on the London Stock Exchange.

At yesterday's closing price, they were up 17% on their annual low of 21 January.


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