이 목록에서
석유

Shell's Q2 production up 4% as weak prices hit earnings

에너지 | 석유

Platts Market Data – Oil

Shell's Q2 production up 4% as weak prices hit earnings

  • 작성자
  • Robert Perkins
  • 편집자
  • Kshitiz Goliya
  • 원자재
  • 석유

London — Shell's second quarter production rose 4% on year but saw sharply weaker earnings for the period on lower oil and gas prices and thinner refining margins, the company said Thursday.

아직 가입하지 않으셨나요?

일일 이메일 알림과 구독자 노트를 받고 이용 경험을 내게 맞게 설정하세요.

지금 가입하세요

Oil and gas production in the second quarter of 2019 was 3.58 million b/d of oil equivalent, mainly due to field ramp-ups in North America and the transfer of its Salym asset from the Integrated Gas segment.

During the quarter, Shell started up its Appomattox field in the US Gulf of Mexico and saw the first LNG cargo from its Prelude project.

Shell, which does not give production targets, said it expects production to grow by some 50,000 - 100,000 boe/d in the third quarter from year-ago levels.

Cash flow from operating activities in the quarter was $11 billion, up from $9.5 billion in the year ago period, with free cash flow at $6.9 billion.

"We have delivered good cash flow performance, despite earnings volatility, in a quarter that has seen challenging macroeconomic conditions in refining and chemicals as well as lower gas prices," CEO Ben van Beurden said in a statement.

On a current cost of supplies basis, Shell's Q2 earnings, excluding one-time items, were $3.5 billion, down 26% from $4.7 billion in Q2 2018.

Downstream, Shell reported a 19% fall in clean sector earnings reflecting lower realised refining margins mainly in the US Gulf Coast and Europe.

-- Robert Perkins, robert.perkins@spglobal.com

-- Edited by Kshitiz Goliya, kshitiz.goliya@spglobal.com