Shell Eyes Lower Q2 Upstream, Integrated Gas Production
7/07 8:48 AM
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. (c) Copyright 2025 DTN, LLC. All rights reserved.