Shell plc reduced its first-quarter 2025 integrated gas production expectations due to adverse weather and unplanned maintenance in Australia.
The energy major adjusted projected volumes to 910,000-950,000 boe/d from a previous projection of 930,000-990,000 boe/d. The projection is still above the 905,000 boe/d produced in fourth-quarter 2024.
The operator also expects first-quarter 2025 LNG output will fall to 6.4-6.8 million metric tons, down from its previous estimate of 6.6-7.2 million metric tons.
Upstream production of 1.79-1.89 MMboe/d is expected in the first quarter, compared with a previous forecast of 1.75-1.95 MMboe/d. The company reported upstream production of 1.859 MMboe/d in fourth-quarter 2024.
An increase is expected in refinery utilization to 83-87% from 76%, while chemicals utilization is projected at 79-83%.
First-quarter results are scheduled to be published May 2, 2025.
