BAKU, Azerbaijan, Oct.7
By Leman Zeynalova – Trend:
Oil products’ sales volumes of Royal Dutch Shell are expected to be between 4,300 and 5,300 thousand barrels per day in Q3 2021, Trend reports with reference to the company’s forecasts.
“Marketing margins are set to be in line with the second quarter 2021. Refining indicative margin is around $5.70/bbl, higher than the $4.17/bbl in second quarter 2021.Refinery utilisation is expected to be between 70 percent and 74 percent, lower compared to the second quarter 2021, due to the impact of Hurricane Ida. Trading and optimisation results are expected to be similar to the second quarter 2021. Underlying Opex is forecast to be up to $100 million higher than the second quarter 2021.Production is expected to be between 2,025 and 2,100 thousand barrels of oil equivalent per day including impacts from Hurricane Ida (~90kboe/d). Underlying Opex will be between $100 and $350 million higher than the second quarter 2021,” said the company.
In the Upstream sector, Shell forecasts pre-tax depreciation to be between $3.1 and $3.4 billion.
“Pre-tax exploration well write-offs are expected to be between $300 and $400 million.Taxation charge is expected to be between $1.2 and $1.7 billion. Second quarter 2021 taxation charge included a one-off release of a non-cash tax provision of approximately $600 million. As a result of Hurricane Ida, Adjusted Earnings is expected to be adversely impacted by between $200 and $300 million. Adjusted Earnings is not expected to be significantly impacted by the prevailing strong gas price environment,” the company notes.
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