Shell PLC on Friday issued an outlook for the second quarter of 2024, anticipating a drop in Integrated Gas output and a sharply worse performance for Renewables & Energy Solutions.

The London-based oil major for Integrated Gas expects a production of 940,000 to 980,000 barrels of oil equivalent per day, at least 0.5% lower than 985,000 a year prior.

In Upstream, Shell eyes an output of between 1.72 million and 1.82 million barrels of oil equivalent per day, at least 1.1% higher than 1.70 million reported for the second quarter of 2023.

For Marketing, the company expects sales volumes to rise at least 3.6% to between 2.7 million and 3.1 million barrels a day, from 2.6 million a year prior.

For Renewables & Energy Solutions, Shell anticipates between an adjusted loss of $500 million and an adjusted profit of $100 million in the second quarter of 2024, worse than its adjusted profit of $228 million a year before.

For Corporate, Shell expects an adjusted loss between $700 million and $500 million, similar to the loss of $654 million it had reported for the second quarter of 2023.

Shell will release its half-year results on August 1.

Shell shares were 0.1% lower at 2,898.50 pence each on Friday morning in London.

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