What is Shell's updated integrated gas production guidance for Q2 2024, and how does it compare to Q1 2024?

Shell updated its integrated gas production guidance for the April–June 2024 quarter to 610,000–650,000 barrels of oil equivalent per day (boed), a slight upward revision from its prior range of 580,000–640,000 boed; however, this Q2 output is still expected to be around 30% lower than the 909,000 boed produced in Q1 2024, primarily due to the impact of the Middle East conflict—including the shutdown of the Pearl GTL facility in Qatar following an attack on Ras Laffan Industrial City in mid-March.

Why did Shell's integrated gas production drop sharply in Q2 2024, and what is the status of the Pearl GTL facility?

Shell's integrated gas production dropped sharply in Q2 2024 mainly because production at its Pearl gas-to-liquids (GTL) facility in Qatar ceased in mid-March after an attack on Ras Laffan Industrial City damaged the facility; specifically, one of Pearl GTL’s two trains was damaged, and Shell stated that repairs would take approximately one year—halting a major contributor to its integrated gas output, as Pearl GTL can process up to 1.6 billion cubic feet per day of gas and convert it into 140,000 barrels per day of GTL products.

Shell raises guidance slightly for Q2 integrated gas production

Jul 6, 2026

Shell raised Q2 integrated gas production guidance to 610,000–650,000 boed, though output remains 30% lower than Q1 due to Middle East conflict damage to its Qatar Pearl GTL facility. Its chemicals and products unit trading results are expected to remain strong.

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