Shell expects at best steady fuel sales for first quarter
News and information on Royal Dutch Shell Plc
Shell expects at best steady fuel sales for first quarter
LONDON (Reuters) – Royal Dutch Shell expects its fuel sales to fall or at best be broadly steady for the first quarter as some coronavirus restrictions ease, the world’s biggest fuel retailer said in a trading update on Wednesday.
Shell said it saw refined oil product sales at 3.7-4.7 million barrels per day (bpd) for the first quarter compared with just under 4.8 million bpd in the last quarter of 2020.
Shell’s refining margins have improved to around $2.6 per barrel in the quarter from $1.6 in the previous quarter.
In liquefied natural gas business (LNG) trading, where it is a global leader, Shell said it expected results to be “significantly below average”.
Shell sees its first-quarter LNG production at 7.8-8.4 million tonnes, compared with 8.2 million in the previous quarter.
Total upstream production was expected to rise to 2.4-2.48 million barrel of oil equivalent from 2.37 million in the fourth quarter of 2020.
An extreme cold snap in Texas is expected to have shrunk its output by 10,000-20,000 bpd and to shave up to $200 million from its adjusted first-quarter earnings, due to be reported on April 29.
Benchmark crude prices in the first quarter rose around 24% and were trading near $63 a barrel on Wednesday.
Graphic: Shell fuel products sales – https://graphics.reuters.com/SHELL-EMISSIONS/xlbvgxnadpq/chart.png
(Reporting by Shadia Nasralla; Editing by Andrew Heavens)
Posted in: COVID-19, Oil, Oil Company Profits, Oil Prices, Reuters, Royal Dutch Shell, Royal Dutch Shell Plc.
Tagged: Oil Prices · Royal Dutch Shell Plc · Shell
EBOOK TITLE: “SIR HENRI DETERDING AND THE NAZI HISTORY OF ROYAL DUTCH SHELL” – AVAILABLE ON AMAZON
EBOOK TITLE: “JOHN DONOVAN, SHELL’S NIGHTMARE: MY EPIC FEUD WITH THE UNSCRUPULOUS OIL GIANT ROYAL DUTCH SHELL” – AVAILABLE ON AMAZON.
EBOOK TITLE: “TOXIC FACTS ABOUT SHELL REMOVED FROM WIKIPEDIA: HOW SHELL BECAME THE MOST HATED BRAND IN THE WORLD” – AVAILABLE ON AMAZON.
Bonus Group: It's all in the ground Simon! https://www.wsj.com/amp/articles/shell-exxon-look-to-profit-from-capturing-customers-carbon-emissions-11618824602
Zik Gbemre: ON HOW TO REVAMP NIGERIA’S UPSTREAM AND DOWNSTREAM OIL & GAS SECTOR With recent reports that the President Muhammadu Buhari-led Federal Executive Council (FEC) had approved a whopping $1.5 billion to rehabilitate the epileptic Port Harcourt refinery, I consider it a national tragedy and a shame of a nation that Nigeria, despite its over fifty decades of oil and gas exploration and production activities, has been exporting its hugely produced crude oil and natural gas at commercial quantity, and then import ‘refined petroleum products’ at higher costs to satisfy domestic demands. The said move, according to the government, is to ensure that the obsolete Port-Harcourt refinery, which last benefitted from a Turn-Around Maintenance (TAM) work in 2000, comes back to life, while also supposedly contributing to the development of Nigeria’s oil sector. We Mobilize Others To Fight For Individual Causes As If Those Were Our Causes https://ndpc-zik.org/publications/on-who-to-revamp-nigeria-upstream-and-downstream-oil-and-gas-sector COMPLETE COMMENTS
Bonus Group: https://www.energyvoice.com/oilandgas/north-sea/310420/shell-looking-options-new-aberdeen-headquarters/
Bogus Group: "Under the Hammer", again!https://www.reuters.com/article/us-tunisia-oil/tunisia-faces-exodus-of-western-oil-giants-idUSKBN2BI1XF
Bogus Group: Serica finally kicks-off development on Columbus, years after BG 'kicked them in the teeth'. https://www.upstreamonline.com/field-development/serica-energy-kicks-off-development-drilling-at-north-sea-field/2-1-982427
Bonus Group: https://www.egypttoday.com/Article/3/48093/Shell-to-develop-Phase-9B-of-WDDM-within-2-months
Bonus Group: I have mentioned before how the contaminated produced water from Shell's Western Delta Deep Marine gas fields, acquired during the takeover of BG Group, used to be tankered and dumped in the desert.Khaled Gad, Shell's Onshore and Offshore Asset Manager in Egypt, should be able to answer the question as to what now happens to the produced water from Shell's assets in Egypt.
Bonus Group: Selling off parts of the BG millstone. See: https://www.upstreamonline.com/lng/shell-completes-2-5bn-australian-lng-asset-sale/2-1-980042
Bonus Group: Further to Bogus Group's post, very little at BG Group was proven. The majority of their work was of low integrity and dissolved at the slightest scrutiny. This was to be expected with a 'do as I say, not do as I do' Line Management.
Bogus Group: https://trinidadexpress.com/business/local/shell-takes-biggest-hit/article_ca33aea4-73d5-11eb-8a6e-ff41b564d669.html It's surely been proven that BG proven reserves were not actually proven and that Shell did inherit a 'pig in the poke'. The statement “Our preference is to deal with these arrangements, not in a clandestine way but there is a deeper confidentiality to it. We have these arrangements all over the world. We need to ensure that we maintain a degree of confidentiality but what I will confirm is that hundreds of millions of US dollars converts to billions of TT dollars and we have confirmed that Trinidad will benefit to billions,”beggars belief.
Bonus Group: It is not clear why the once upon a time VP Developments, Brazil is now VP Subsurface Excellence, given that the Brazil Asset under her stewardship spent at least five years down a giant rabbit hole using a corrupt workflow that resulted in a significant overbooking of reserves.
See our link list of over 500 articles by the FT, Wall Street Journal, Reuters, Bloomberg, Forbes, Dow Jones Newswires, New York Times, CNBC etc, plus UK House of Commons Select Committee Hansard records, information on U.S. Securities & Exchange Commission website etc. all containing references to our Shell focussed websites, or our website founders Alfred and John Donovan. Includes TV documentary features in English and German, newspaper and magazine articles, radio interviews, newsletters etc. Plus academic papers, Stratfor intelligence reports and UK, U.S. and Australian state/parliamentary publications, also citing our Shell websites. Click on this link to see the entire list, all in date order with a link to an index of over 60 books also containing references to our websites and/or our activities.
John Donovan, the website owner
A head-cut image of Alfred Donovan appears courtesy of The Wall Street Journal.
© 2021 Royal Dutch Shell Plc .com | Powered by WordPress
PrimePress theme by Ravi Varma
0 Comments on “Shell expects at best steady fuel sales for first quarter”
Leave a Comment