On October 8, SHELL PLC SPON ADS EACH REPR 2 ORD SHS rose 3.04% in regular trading, trading at $99.845 per share, with turnover of $93.9 million.
The stock was lifted by the company's upward revision to its third-quarter integrated gas production outlook. Shell raised the guidance to 740,000–780,000 barrels of oil equivalent per day from 570,000–630,000 boe/d previously, while narrowing upstream production guidance to 1.74 million–1.84 million boe/d. The company also expects its indicative refining margin for the quarter to climb to $42 per barrel from $24 in Q2.
The stronger operational signals come alongside Shell's completed $16.5 billion acquisition of ARC Resources and its final investment decision to double LNG Canada capacity to 28 million tonnes per annum, reinforcing long-term positioning in natural gas and LNG.
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