Shell Q3 update: expects chemical loss, lifts LNG output
Shell (NYSE:SHEL) updated its Q3 guidance, the energy giant expects to lose money in its chemicals business, with refining margins in the segment expected to drop 29% to $5.50 a barrel. The chemicals margin is expected to move higher to $164 per tonne from $155 per tonne in Q2 despite marginal loss estimates for Q3.