Shell Lowers Q1 Production Outlook, Flags Write-Offs And Maintenance

Shell PLC (NYSE:SHEL) shares were trading lower in premarket on Monday after the company revised its first-quarter outlook.

For the first quarter, it cut the guidance for production at Integrated Gas to around 910 – 950 thousand boe/d (vs. the prior outlook of 930, 990 thousand boe/d) due to unplanned maintenance, mainly in Australia.

Also, Shell revised the outlook for Upstream to about 1,790 – 1,890 thousand boe/d (vs. earlier outlook of 1,750, 1,950 thousand boe/d), reflecting the completion of the SPDC divestment in March 2025.

In the Upstream segment, the company projects a share of profit / (loss) of ...