Shell PLC said it expects its third-quarter earnings to be hit by “significantly lower” profit from trading gas because of market volatility as well as higher costs for delivering fuel amid a global scramble for energy supplies.
The London-based company said Thursday that the pricing and cost swings from shortfalls of liquefied natural gas will likely cut into profit from its huge gas business, typically its biggest cash generator. But Shell said its overall marketing profits from trading oil and other products were higher in the third quarter compared with the previous quarter. The comments came in a preview of Shell’s full third-quarter earnings, scheduled for later this month.
