Shell Lowers Gas Output Forecast Due to Iran Conflict
Shell cut its gas production forecast and flagged a working capital outflow of up to 15 billion dollars. The update follows market volatility and regional conflict.
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SHELL PLC has provided an early look into its first-quarter performance, highlighting the significant impact of the conflict involving the United States, Israel, and Iran. While the energy major expects a surge in oil trading profits, it has lowered its production outlook for Natural Gas and warned of a substantial temporary drain on liquidity.
