(Alliance News) - Shell PLC on Friday issued an outlook for the second quarter of 2024, anticipating a drop in Integrated Gas output and a sharply worse performance for Renewables & Energy Solutions.

The London-based oil major for Integrated Gas expects a production of 940,000 to 980,000 barrels of oil equivalent per day, at least 0.5% lower than 985,000 a year prior.

In Upstream, Shell eyes an output of between 1.72 million and 1.82 million barrels of oil equivalent per day, at least 1.1% higher than 1.70 million reported for the second quarter of 2023.

For Marketing, the company expects sales volumes to rise at least 3.6% to between 2.7 million and 3.1 million barrels a day, from 2.6 million a year prior.

For Renewables & Energy Solutions, Shell anticipates between an adjusted loss of USD500 million and an adjusted profit of USD100 million in the second quarter of 2024, worse than its adjusted profit of USD228 million a year before.

For Corporate, Shell expects an adjusted loss between USD700 million and USD500 million, similar to the loss of USD654 million it had reported for the second quarter of 2023.

Shell will release its half-year results on August 1.

Shell shares were 0.1% lower at 2,898.50 pence each on Friday morning in London.

By Tom Budszus, Alliance News slot editor

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