Shell Plc Forecasts Lower Q2 Output

In its latest quarterly update, Shell Plc has indicated a notable decrease in its oil and gas production for the second quarter of 2025. The company attributes this downturn to scheduled maintenance activities and the recent sale of its Nigerian SPDC unit.

Production and Financial Highlights

The London-based energy giant projects its upstream production to range between 1.66 million and 1.76 million barrels of oil equivalent per day, a decline from 1.86 million in the preceding quarter. Despite this, Shell has observed an improvement in refining margins, which have risen to $8.90 per barrel from $6.20 in Q1, alongside an increase in chemicals margins to $166 per tonne.

Challenges Ahead

However, Shell cautions that its Chemicals and Products segment might report an adjusted earnings loss, primarily due to unplanned maintenance at its Monaca facility, underscoring the volatile nature of the energy sector.