Energy giant Shell plc on Monday cut its first-quarter liquefied natural gas (LNG) production outlook.
The company said it now expected LNG output of 6.4 million - 6.8 million metric tonnes, down from a previous forecast of 6.6 million to 7.2 million, citing cyclones and unplanned maintenance in Australia, and forecast that gas division trading results would be in line with the previous quarter.
Shell also said it expects to book a $100m exploration well write-off.
Reporting by Frank Prenesti for Sharecast.com