Shell Q2 Profit Climbs, Revenues Down; Issues Q3 Production Outlook

(RTTNews) - British oil and gas major Shell Plc (SHEL) reported Thursday that its second-quarter income attributable to shareholders increased to $3.517 billion from last year's $3.134 billion.

Earnings per share grew to $0.55 from $0.46 a year ago.

Adjusted earnings were $6.293 billion or $0.99 per share, compared to prior year's $5.073 billionor $0.75 per share.

Adjusted EBITDA increased to $16.806 billion from last year's $14.435 billion.

Total revenue and other income, meanwhile, dropped to $75.057 billion from $76.020 billion in the previous year.

Looking ahead for the third quarter, the company projects integrated gas production to be approximately 920 - 980 thousand boe/d. LNG liquefaction volumes are expected to be approximately 6.8 - 7.4 million tonnes.

Upstream production is expected to be around 1,580 - 1,780 thousand boe/d. Production outlook reflects the scheduled maintenance across the portfolio.

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