Shell Eyes Lower Q2 Upstream, Integrated Gas Production


   
Dawn Gallagher
DTN Energy Reporter

   OAKHURST, N.J. --- (DTN) Shell today, in a second quarter update estimated 
upstream production at 1.66 million barrels of oil equivalent per day to 1.76 
million boepd, down from 1.855 million boepd in the first quarter, reflecting 
scheduled maintenance and the completed sale of the SPDC in Nigeria. Adjusted 
earnings for the segment are projected at $2.0 billion to $2.6 billion.

   Shell eyes refinery utilization for the second quarter at 92% to 96%, up 
from 85%, with indicative refining margin up $2.70 bbl to $8.90 bbl.

   Production in integrated gas segment is estimated at 900,000 boepd to 
940,000 boepd compared with 927,000 bpd in the first quarter with adjusted 
earnings for the segment seen at $1.4 to $1.8 billion.




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