Shell PLC (LSE:SHEL, NYSE:SHEL) issued an update to its fourth quarter outlook on Thursday, flagging to investors softer trading.
In London, the share was down 2.26% changing hands at 2,595p in Thursday morning's trade.
Shell guided investors that the integrated gas business it is expecting production between 930,000 and 970,000 barrels of oil equivalent per day, with LNG liquefaction volumes expected between 7.5 and 7.9 million tonnes.
The company said the Trading and Optimisation business performance is expected to be in line with the third quarter.
And, in its Chemicals and Products division, indicative refining margins are expected to rise to $14 per barrel, while indicative chemicals margins are forecast to fall to $140 per tonne.
Shell said chemicals adjusted earnings are expected to be “a significant loss, reflecting a (non-cash) deferred tax adjustment in a joint venture.”