![]() Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Chicago Mercantile: Certain market data is the property of Chicago Mercantile Exchange Inc. US market indices are shown in real time, except for the S&P 500 which is refreshed every two minutes. ![]() Your CNN account Log in to your CNN account LNG liquefaction volumes were slightly higher on the quarter, averaging 8 million tonnes. ![]() Shell’s fuel sales averaged 4.3 million barrels per day in the quarter, down from 4.45 million bpd in the previous quarter, Shell said. Earnings from oil trading are set to be “significantly higher” in the quarter.Ĭashflow in the quarter would be negatively impacted by “very significant” outflows of around $7 billion as a result of changes in the value of oil and gas inventories. Shell, the world’s largest liquefied natural gas trader, said earnings from LNG trading were expected to be higher in the quarter compared with the previous three months. The unprecedented volatility in commodity prices in recent months has pushed several traders to the brink as they scrambled to sharply increase down payments for oil and LNG cargoes. Shell did not provide any guidance on the future of its stakes in Russian projects.īenchmark oil prices soared to an average of more than $100 a barrel in the quarter, their highest since 2014, while European gas prices hit a record high. Shell said it will exit all its Russian operations, including a major liquefied natural gas plant in the Sakhalin peninsula in the eastern flank of the country. The start of 2022 marked one of the most turbulent periods in decades for the oil and gas industry as Western companies including Shell rapidly pulled out of Russia, severing trading ties and winding down joint ventures following Moscow’s invasion of Ukraine. (RDSA)shares were down 1.2% at the start of London trading. The increase was due to additional potential impacts around contracts, writedowns of receivables, and credit losses in Russia, a Shell spokesperson said. Shell, whose market capitalization is around $210 billion, had previously said the Russia writedowns would reach around $3.4 billion. The post-tax impairments of between $4 billion and $5 billion in the first quarter will not impact the company’s earnings, Shell said in an update ahead of its earnings announcement on May 5. Compare Standard and Premium Digital here.Īny changes made can be done at any time and will become effective at the end of the trial period, allowing you to retain full access for 4 weeks, even if you downgrade or cancel.Shell will write down up to $5 billion following its decision to exit Russia, more than previously disclosed, while soaring oil and gas prices boosted trading activities in the first quarter, the company said on Thursday. You may also opt to downgrade to Standard Digital, a robust journalistic offering that fulfils many user’s needs. If you’d like to retain your premium access and save 20%, you can opt to pay annually at the end of the trial. If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for $69 per month.įor cost savings, you can change your plan at any time online in the “Settings & Account” section. For a full comparison of Standard and Premium Digital, click here.Ĭhange the plan you will roll onto at any time during your trial by visiting the “Settings & Account” section. Premium Digital includes access to our premier business column, Lex, as well as 15 curated newsletters covering key business themes with original, in-depth reporting. Standard Digital includes access to a wealth of global news, analysis and expert opinion. During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages.
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