BAKU, Azerbaijan, November 3. In 3Q2023, Shell's gas production reached 2,564 million standard cubic feet per day (mscf/d), Trend reports.
This signifies an increase of almost 6 percent from the 2,425 mscf/d recorded in the previous quarter, 2Q2023.
While Shell has reported its gas production figures for 3Q 2023, the company has not provided a specific outlook for the final quarter of the year, 4Q 2023.
Simultaneously, Shell's overall production for 3Q 2023 reached 1,753 thousand barrels of oil equivalent per day (kboe/d), reflecting a positive uptick of 3 percent from the 1,701 kboe/d recorded in 2Q2023.
Looking ahead to the final quarter of 2023, Shell has provided an outlook for its total production, estimating it to fall within a range of 1,750 to 1,950 kboe/d.
Meanwhile, in 3Q2023, Shell's adjusted earnings witnessed a significant boost, thanks to the favorable market conditions marked by surging oil prices. This uptick in prices, combined with increased production volumes, has played a pivotal role in bolstering the company's financial performance.
At the same time, in 4Q2023, Shell's production outlook is set to undergo a transformation due to the anticipated closure of the Groningen gas field, the company reported.