BAKU, Azerbaijan, July 7
By Leman Zeynalova – Trend:
Royal Dutch Shell’s production in Upstream is estimated to be between 2,225 and 2,300 thousand barrels of oil equivalent per day in Q2 2021, Trend reports with reference to the company.
Any positive impacts from currency effects are expected to be offset by higher Underlying opex from increased planned maintenance activities compared with the first quarter 2021. Pre-tax depreciation is expected to be between $3.2 and $3.5 billion. Taxation charge is expected to be between $500 and $900 million, which includes a one-off release of non-cash tax provision of approximately $600 million.
Tax paid is expected to be between $750 and $1,100 million.
Marketing margins in Oil Products sector are expected to be higher than the first quarter 2021, reflecting strong retail unit margins, partly offset by lower lubricant margins due to base oils and additives shortages. Refining indicative margin is around $4.17/bbl. Definition and formula are provided at the end of this release.
Sales volumes are expected to be between 4,000 and 5,000 thousand barrels per day.
Refinery utilisation is expected to be between 75 percent and 79 percent.Trading and optimisation results are expected to be average, similar to the first quarter 2021. Underlying opex is expected to be between $200 and $400 million higher than the first quarter 2021, mainly due to an increase in marketing volumes.
---
Follow the author on Twitter: @Lyaman_Zeyn
