Shell PLC

Shell PLC (LSE: SHEL) is an FTSE 100 listed energy and petrochemical company. It specializes in the exploration, production, refining, and marketing of oil and natural gas, and the manufacturing and marketing of chemicals. Its segments include Integrated Gas, Upstream, Marketing, Chemicals and Products, Renewable and Energy Solutions, and Corporate.

Q3 FY24 Update (Released on 07 October 2024)

• Integrated Gas Division: Shell’s Integrated Gas division expects LNG liquefaction volumes to increase to a range of 7.3 to 7.7 mn tonnes, with trading and optimization results expected to remain in line with Q2'24. This highlights stability in the division’s performance.

• Upstream Performance: Upstream production is projected to be 1,740-1,840 kboe/d with EBITDA supported by a solid operational framework, despite expected write-offs of exploration wells amounting to USD 0.1 bn.

• Chemicals and Products: Refining margin estimates have decreased to USD 5.5/bbl for Q3, signaling a softer quarter compared to Q2. However, energy demand remains robust, keeping utilization rates relatively stable at 79%-83% for refineries.

• Renewables and Energy Solutions: The Renewables segment continues to face challenges, with earnings expected to range from -0.4 to 0.2 bn, reflecting ongoing investments and market pressures in this area.

• Corporate Outlook: Shell's corporate adjusted earnings are expected to post a slight loss of USD 0.7 to USD 0.5 bn, emphasizing the cautious financial outlook across the company for Q3'24 due to market volatility and operational costs. 144%, and net bank debt reduced to EUR 143.6 mn, providing long-term financial flexibility.

Share Price Chart

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Shell PLC (LSE: SHEL) was trading at the closing market price of GBX 2,638.00 (as of 07 October 2024) 

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance level is 07 October 2024. The reference data in this report has been partly sourced from REFINITIV.

Note 3: ‘Kalkine reports are prepared based on the stock prices captured either from the London Stock Exchange (LSE) and or REFINITIV. Typically, both sources (LSE and or REFINITIV) may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.

Note 4: Dividend Yield may vary as per the stock price movement.