SHEL expects the drilling campaign to commence offshore Suriname in the second half of this year. The contract has been awarded to Stena Drilling via SHEL's subsidiaries.
Shell Plc's first quarter earnings forecast has been trimmed by analysts at UBS, due to unexpected disruption to its liquefied natural gas operations. The Swiss bank now expects Shell to report net income of US$5 billion, down 1% from a prior estimate, and 4% below broader market consensus.
SHEL revises its first-quarter LNG production estimate to 6.4-6.8 million tons, reflecting a reduction ahead of its financial results release on May 2.
Shell (SHEL) on Monday said it lowered its first-quarter integrated gas production estimate, citing a hit to volumes from unplanned maintenance.
SHEL awards a contract to Subsea 7 for its Sparta project in the Gulf of Mexico, aiming for 90,000 boe/d with production slated to commence in 2028.
Shares in BP PLC (LSE:BP.) and Shell PLC (LSE:SHEL, NYSE:SHEL) fell 8% on Monday, as the oil majors faced a double blow from collapsing crude prices and mounting fears of a global recession triggered by President Trump's sweeping tariffs.
Shell lowered its integrated gas production estimate for the first quarter as volumes were hit by unplanned maintenance.
Shell PLC (LSE:SHEL, NYSE:SHEL) said it expects slightly higher gas production but that oil production could be lower in the first quarter compared to the final three months of last year. The supermajor shared some details on production, depreciation and opex for each of its divisions for the first quarter of 2025, ahead of the full quarterly results announcement scheduled for 2 May.
Shell lowered its first-quarter liquefied natural gas (LNG) production outlook in a trading update on Monday before it publishes results on May 2.
Shell (SHEL) closed at $72.72 in the latest trading session, marking a -0.45% move from the prior day.
SHEL mentions that the new company has entered into crude supply deals and product offtake agreements, which will be realized following the deal's closure.
Shell has outperformed European and American peers since 2023 as its Sprint 1 delivered on higher payouts, lower costs, and capex discipline. The recent CMD 2025 doubles down on those points with structural growth in LNG supported by lower capex, more cost savings, and a raised distribution target. We view current SHEL as the strongest it's ever been and see ample scope for continued outperformance, confirming it as our top pick among global oils.