Summary by Moomoo AI
Shell projects decreased performance for Q4 2024, with LNG liquefaction volumes expected to drop to 6.8-7.2 MT from Q3's 7.5 MT due to lower feedgas and fewer cargo liftings. Trading and optimization results are anticipated to be significantly lower than Q3, impacted by expiring hedging contracts.The company expects reduced refinery and chemicals utilization rates of 74-78% and 73-77% respectively, down from Q3's 81% and 76%. The Chemicals sub-segment is projected to record a loss in Q4. Marketing results are forecasted to decline due to seasonality.Shell anticipates non-cash post-tax impairments of $1.5-3.0 billion across segments, with the largest impact in Renewables & Energy Solutions. Net debt is expected to increase by $4-6 billion from new lease liabilities, including the LNG Canada pipeline liability. The company's Q4 results will be published on January 30, 2025.
