Shell release first quarter 2026 update note

08 Apr Shell release first quarter 2026 update note

Shell said it had slashed its gas production for the first quarter of the year after being affected by the conflict in the Middle East. This comes after reporting an 11 per cent drop in fourth-quarter profits.
Shell’s first-quarter integrated gas production was expected to be about 880,000 to 920,000 barrels of oil equivalent per day, the company said. It previously expected 920,000 to 980,000 boed. In the fourth quarter of 2025, it produced 948,000 boed.

Shell’s first-quarter LNG production was expected to be about 7.6 million to 8 million metric tons, the company said, adding that the figure reflected the ramp-up of LNG Canada but was offset by weather constraints in Australia and Qatar LNG outages. It previously forecast 7.4 million to 8 million tons. In the fourth quarter of 2025, it liquefied 7.8 million tons.

Production at Shell’s Pearl gas-to-liquids facility in Qatar stopped in mid-March after an attack on the Ras Laffan Industrial City damaged the facility, Shell said at the time.

Pearl GTL, a two-train facility that can process up to 1.6 billion cubic feet per day of wellhead gas, converting it into 140,000 bpd of gas-to-liquids, sustained damage on one the trains in the attacks, Shell has said. Shell forecast adjusted earnings for its renewables and energy solutions unit to be around $200 million to $700 million, from $131 million in the fourth quarter, and trading in the unit to be significantly higher. Related News