Royal Dutch Shell PLC expects third-quarter production for its upstream segment and LNG liquefaction volumes for its integrated gas segment to increase year over year.
The oil major said in an Aug. 1 investor document that upstream production is forecast to be 50,000 barrels of oil equivalent per day to 100,000 boe/d higher than in the third quarter of 2018 owing to field ramp-ups and the transfer of the Salym asset from the integrated gas segment. The growth will be partly offset by field decline and divestments.
LNG liquefaction volumes are expected to increase slightly year over year due to production ramp-ups.
Oil product sales volumes are projected to decrease year over year by 40,000 boe/d to 70,000 boe/d due to a divestment in Argentina.
The supermajor reported total second-quarter production of 3.6 million boe/d, down from 3.8 million boe/d in the first quarter. Integrated gas production came in at 927,000 boe/d, while second-quarter upstream production was 2.7 million boe/d.
LNG liquefaction volumes came in at 8.66 million tonnes, compared to 8.74 million tonnes in the first quarter.
Total oil products sales volumes came in at 6.6 million barrels per day in the second quarter, compared to 6.5 million bbl/d in the first quarter.