Shell Expects Higher Q3 LNG Output and Stronger Gas Trading

Key Takeaways Shell forecasts higher LNG liquefaction volumes and stronger Trading & Optimization results. Upstream output rises, though Brazil's Tupi field adjustment trims earnings by up to $0.4B. Refining margins improve to $11.6/bbl, while chemicals remain weak with projected losses. Shell plc (SHEL) , a London-based integrated oil and gas company, has released its third-quarter 2025 update, a detailed forecast of its operational and financial expectations for the period. The report, dated Oct. 7, 2025, ...