Shell details production guidance in new quarterly updates

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Royal Dutch Shell said it expected to produce between 2,600 and 2,650 thousand barrels of oil equivalent per day at its upstream oil and gas business in the third quarter.

The figures were given in a new series of quarterly updates, which the company said it had introduced in response to investor feedback.

During the third quarter there had been additional well write-offs in the range of $250m-to-$350m on-year, for which no cash impact was expected.

Integrated gas production was expected to be between 930k and 960k barrels of oil equivalent per day, while LNG liquefaction volumes were expected to be between 9.00m and 9.30m tonnes.

Refinery availability was expected to be between 90% and 92%, while oil products sales volumes were expected to be between 6,700k and 7,350k barrels per day.

'In response to feedback from our investor community we are introducing this new quarterly process,' chief financial offier Jessica Uhl said.

'This is a further step in Shell’s ongoing journey to enhance disclosures and increase transparency.'