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Royal Dutch Shell's enhanced quarterly update

The oil and gas major is looking to increase transparency
September 30, 2019

Apparently, “feedback from [the] investor community” doesn’t always go unnoticed. Royal Dutch Shell (RDSB) has got the jump on its rivals, at least in terms of enhanced corporate disclosure, following the introduction of an update to the third-quarter 2019 outlook provided in the second-quarter results announcement. In addition, the energy major will also publish quarterly consensus cash-flow figures (CCFO) from operations*.

IC TIP: Hold at 2388p

Q3 Upstream: Shell is looking at production of between 2,600 and 2,650 thousand barrels of oil equivalent per day (bopd). The quarter has also seen additional write-offs in the range of $250m-$350m compared with the corresponding period in 2018, for which no cash impact is expected.

Q3 Integrated Gas: Output is expected to be between 930 and 960 thousand barrels of oil equivalent per day (boepd), while LNG liquefaction volumes are predicted to be between 9.00m and 9.30m tonnes.

Q3 Downstream: Sales volumes for oil products are expected to be between 6,700 and 7,350 thousand bopd. Refinery availability should come in between 90 per cent and 92 per day.

*The consensus for quarterly earnings and CFFO is scheduled to be made public on 24 October 2019.

Full details available here.