Shell's Traders Get Boost From Conflict But Gas Output Falls on Lost Qatari Volumes
By Adam Whittaker
Shell's traders continued to benefit from volatility triggered by the conflict in the Middle East in the second quarter, but lost Qatari volumes have dragged on gas output.
The British energy major said its gas-trading division is expected to report significantly higher results than the first quarter. Its oil traders, who delivered bumper profits at the start of the year, are also expected to post a robust performance.
Shell said its oil traders' result is expected to be in line with the prior quarter. While Shell doesn't break out its trading performance, adjusted earnings within its chemicals and products division, which houses its oil traders, surged to $1.925 billion in the first quarter. This compared with a $66 million loss in the fourth quarter of last year.
However, production in Shell's integrated gas unit is expected around 610,000 to 650,000 barrels of oil-equivalent a day, down from 909,000 barrels in the first quarter. This fall reflects the impact of the Middle East conflict on Qatari volumes, Shell said.
Write to Adam Whittaker at adam.whittaker@wsj.com
(END) Dow Jones Newswires
July 07, 2026 02:39 ET (06:39 GMT)
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