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Shell Updates Q2 Production Targets

Shell (SHEL) said Thursday it expects Q2 upstream production to range between 1.9 million and 2 million barrels of oil equivalent per day, or boe/d, compared with the 1.8 million to 2 million boe/d previously issued.

Integrated gas output in the quarter should now range from 930,000 to 980,000 boe/d, compared with the previous guidance of 910,000 to 960,000 boe/d. Liquefaction volumes are still expected to be between 7.4 million and 8 million tonnes, reflecting the derecognition of Sakhalin-related volumes.

The company said its projection for chemical sales volumes now ranges between 3 million and 3.4 million tons, compared with the 3.1 million to 3.5 million tons provided in May.

Shell shares were down 0.3% in recent premarket trading Thursday.