(Alliance News) - Royal Dutch Shell PLC on Monday said it expects to see a "strong trading and optimisation performance" for the third quarter.
The oil major, the UK's biggest listed company, said it was introducing new quarterly trading updates in response to feedback from investors.
In its Integrated Gas unit, Shell said production is expected to be in a range between 930,000 and 960,000 barrels of oil equivalent per day. Liquefied natural gas volumes are expected to be between 9.00 and 9.30 million tonnes.
In the Upstream oil division, production is expected to be between 2.6 million and 2.65 million barrels of oil per day. Shell said that during the third quarter there has been additional oil-well write-offs in the range of USD250 million to USD350 million, when compared to the third quarter of 2018 - for which no cash impact is expected.
In the Downstream arm, oil products sales volumes are expected to be between 6.7 million and 7.3 million barrels per day. Refinery availability is expected to be between 90% and 92%, Shell added.
On the corporate front, Shell said third quarter earnings - excluding identified items - are expected to include a net charge of between USD700 to USD850 million. The figure excludes the hit of currency exchange rate effects.
Shell said currency exchange rate movements, including a weakening of the Brazilian real, are expected to have add a negative earnings hit to the provided range.
Shell will report third-quarter results on October 31.
Shell A shares were up 0.2% early Monday in London at 2,414.50 pence.
By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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