Shell lowers Q4 outlook, trims LNG output
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 8 January 2025
⏱️ 6 minutes
🧾️ Download transcript
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Transcript
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| 0:00.0 | Welcome to Seeking Alpha's Wall Street Breakfast, where we cover the top news for investors every morning. |
| 0:08.1 | Good morning. Today is Wednesday, January 8th. I'm Julie Morgan. Shell lowers its Q4 forecast. |
| 0:16.0 | Goodyear sells one of its brands, and Delta is teaming up with Uber. |
| 0:22.1 | Shell is down nearly 2% in pre-market action after trimming its Q4 forecast. |
| 0:28.2 | Shell reduced its LNG production forecast to between 6.8 and 7.2 million metric tons, |
| 0:35.0 | down from a previous estimate of 6.9 to 7.5 million metric tons, |
| 0:40.3 | and lower than Q3's 7.5 million metric tons. The company cited lower feed gas deliveries and fewer cargo |
| 0:48.9 | shipments. Integrated gas production is expected to be between 880 and 920,000 barrels of oil equivalent per day, |
| 0:57.7 | lower than Q3's figure of 941,000 barrels of oil equivalent per day, |
| 1:03.8 | citing scheduled maintenance of Pearl GTL and Qatar during the quarter. |
| 1:08.4 | Shell anticipates that its oil and gas trading results will be lower |
| 1:12.2 | than last quarter, mainly due to the non-cash expiry of hedging contracts, which has adversely |
| 1:18.0 | affected trading outcomes in both the LNG and Chemicals divisions. The world's largest LNG |
| 1:24.3 | trader is set to post its Q4 results on Thursday, January 30th. |
| 1:29.3 | Shares are trading 1.5% lower in London. |
| 1:33.3 | Goodyear Tire and Rubber said Tuesday it agreed to sell its Dunlop tire brand to Japan's Sumitomo |
| 1:40.3 | rubber industries for $701 million in cash. Under the deal terms, Goodyear said it will continue to |
| 1:47.1 | manufacture, sell, and distribute Dunlop-branded consumer tires in Europe through at least year-end, |
| 1:54.1 | 2025. Good Year will pay a royalty to Sumitomo during the period on Dunlop sales, but otherwise will retain all profits from the sales. |
| 2:03.9 | Goodyear will also license back the Dunlop trademarks from Sumitomo for use on commercial truck tires, |
| 2:10.5 | while retaining its rights to the Dunlop trademarks for use on motorcycle tires in Europe and Oceania. |
| 2:17.2 | The company said the sale follows its previously announced strategic review of the brand |
... |
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