Shell has released projections for its first-quarter 2024, indicating an expected adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of US$1.9 billion. The figures, however, are subject to change pending finalization and are set to be officially disclosed on May 2, the company said.
In the Upstream segment, Shell outlined its adjusted EBITDA is forecasted to range between US$1.82 billion and US$1.92 billion.
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Shell said its operating expenses are expected to be between US$2.3 billion and US$2.8 billion, with adjusted earnings anticipated to be between US$2.7 billion and US$3.1 billion before tax depreciation.
Furthermore, the share of profit/(loss) from joint ventures and associates in Q1 is projected to be approximately US$0.5 billion, while exploration well write-offs are expected to amount to around US$0.6 billion, primarily in Albania.
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In the Integrated Gas segment, Shell expects adjusted EBITDA to range between US$960 million and US$1 billion.
Shell’s LNG liquefaction volumes are projected to be between 7.2 million and 7.6 million metric tons, with operating expenses forecasted to be between US$1 billion and US$1.2 billion.
