Weaker refining, gas trading to hit Shell's third-quarter results

Shell said connected Thursday its third-quarter profits would beryllium pressured by a crisp driblet successful refining margins and
"significantly" weaker net from earthy state trading.

The British vigor elephantine reported 2 consecutive quarters of grounds profits successful the archetypal fractional of the twelvemonth amid soaring lipid and state prices, and stellar net from its trading operations, the world's biggest.

But successful the 3rd quarter, indicative refining margins dropped to $15 a tube compared with $28 a tube successful the erstwhile 3 months, Shell said successful an update up of its results connected Oct. 27, amid increasing concerns implicit a planetary economical slowdown.

And indicative margins for chemicals dropped to antagonistic $27 per tonne versus a affirmative $86 successful the 2nd 4th amid a slump successful request for plastics.

The driblet successful refining margins volition person a antagonistic interaction of betwixt $1 and $1.4 cardinal connected the segment's adjusted net earlier interest, taxes, depreciation and amortization (EBITDA), Shell said.

Shell's 3rd 4th liquefied earthy state (LNG) and state trading results are expected to beryllium "significantly lower" owed to little seasonal request arsenic good arsenic "substantial differences betwixt insubstantial and carnal realisation successful a volatile and dislocated market."