Shell Warns of Weakness in Integrated Gas Business
1. Shell anticipates lower second-quarter Integrated Gas production and earnings. 2. Production estimates reduced to 900,000-940,000 BOE/D from 980,000 BOE/D last year. 3. Upstream production expected to fall due to maintenance and Nigerian operation sale. 4. Natural gas prices have declined by about 25% since March. 5. Despite recent declines, SHEL shares are up 12% year-to-date.