Shell said on Thursday its third-quarter profits would be pressured by a near halving of oil refining margins, crumbling chemical margins and weaker natural gas trading. The British energy giant reported two consecutive quarters of record profits in the first half of the year amid soaring oil and gas prices, and stellar earnings from its trading operations, the world's biggest. But in the third quarter, indicative refining margins dropped to $15 a barrel compared with $28 a barrel in the previous three months, Shell said in an update ahead of its results on Oct. 27, amid growing concerns over a global economic slowdown.
The following is an update to the third quarter 2022 outlook. Impacts presented may vary from the actual third quarter 2022 results and are subject to finalisation of those results, which will be published on October 27, 2022. Unless otherwise indicated, all outlook statements exclude identified items. Integrated Gas Adjusted EBITDA Production is expected to be between 890 and 940 thousand barrels of oil equivalent per day. LNG liquefaction volumes are expected to be between 6.9 and 7.5 million
Transaction in Own Shares 05 October 2022 • • • • • • • • • • • • • • • • Shell plc (the ‘Company’) announces that on 05 October 2022 it purchased the following number of Shares for cancellation. Aggregated information on Shares purchased according to trading venue: Date of purchaseNumber of Shares purchasedHighest price paid Lowest price paid Volume weighted average price paid per shareVenueCurrency05/10/20222,551,999 £23.8700£22.9600£23.6750LSEGBP05/10/2022707,000 £23.8700£22.9500£23.4619Chi-X