Shell has revealed a stronger performance in its oil and gas trading operation but has taken a 600 million US dollar (£446.3 million) hit from stopping a major biofuels project in Rotterdam.
The FTSE 100 oil giant saw shares tick higher on Tuesday morning after updating investors.
It said trading in its integrated gas division is set to have been “significantly higher” in the third quarter of 2025 than the previous quarter, in a positive signal for earnings.
Shell reported production guidance of 910,000 to 950,000 barrels of equivalent per day of gas for the latest quarter.
The company also lifted its production guidance for the amount of liquified natural gas (LNG) it would produce over the quarter.
On Tuesday, it guided towards a range of 7 million to 7.4 million metric tonnes, compared with a previous prediction of between 6.7 million and 7.3 million.
The group, which will publish more detailed figures at the end of the month, said it expects to deliver adjusted earnings of around 4.3 billion US dollars (£3.2 billion) for the third quarter.
It comes despite the company highlighting that it will be hit by a non-cash impairment worth around 600 million dollars linked to the cancellation of a planned project in Rotterdam.
Last month, Shell confirmed that plans to develop a biofuels site in Rotterdam had been axed after spending around a year on pause due to technical issues.
Meanwhile, it also highlighted it would face a knock to earnings of between 200 million and 400 million dollars (£149-£298 million) from its Brazilian operations.
