Generic Hero BannerGeneric Hero Banner
Latest market news

Shell’s 1Q European gas production up

  • Märkte: Crude oil, Natural gas, Oil products
  • 02.05.25

Shell's European gas production for sale in January-March slightly stepped up on the year, but the company expects works to limit global oil and gas production this quarter.

Shell produced 24.9mn m³/d in the first quarter, up from 24.8mn m³/d a year earlier but below the 25.2mn m³/d in fourth-quarter 2024.

Shell has stakes in UK and Dutch fields, as well as a 17.8pc share in Norway's Ormen Lange field and an 8.1pc stake in the giant Troll field. Output from the two Norwegian fields was down on the year in January-February, the latest months for which data are available.

Ormen Lange produced 19.8mn m³/d in January-February, down from 22.6mn m³/d a year earlier. Troll production averaged 123.6mn m³/d over those two months, also down from 126.2mn m³/d a year earlier.

Shell's integrated gas business was the company's top performing segment with profits of $2.8bn, slightly higher on the year. Lighter maintenance at the Pearl gas-to-liquids plant in Qatar supported production, but unplanned works and weather constraints in Australia left the company's LNG volumes at 6.6mn t in January-March from 7.6mn t a year earlier, Shell said.

Meanwhile, Shell's upstream division posted $2.1bn in profit, down 8.5pc on the year earlier but double compared with the fourth quarter 2024. The segment was hit with a $509mn tax bill related to the UK's Energy Profits Levy in the first quarter, partially offset by gains from asset sales.

Across the entire company, Shell reported first-quarter profits adjusted for inventory valuation effects and one-off items of $5.6bn, surpassing analysts' expectations of $5.3bn.

Shell's first-quarter worldwide oil, liquids and gas production was 2.84mn boe/d, down from 2.91mn boe/d a year earlier but up from 2.82mn boe/d in the previous quarter.

The company expects lower oil and gas production this quarter in a 2.45mn-2.71mn boe/d range because of maintenance across its integrated gas portfolio and an absence of volumes from its SPDC business in Nigeria, which Shell sold off in March.


Teilen
Generic Hero Banner

Business intelligence reports

Get concise, trustworthy and unbiased analysis of the latest trends and developments in oil and energy markets. These reports are specially created for decision makers who don’t have time to track markets day-by-day, minute-by-minute.

Learn more