Shell (SHEL) said Wednesday it expects Q1 upstream production of 1.76 million to 1.86 million barrels of oil equivalent per day, compared with 1.89 million in Q4.
Integrated gas production for the quarter is expected at 880,000 to 920,000 barrels of oil equivalent per day, compared with 948,000 barrels in the prior quarter, according to the company.
The energy giant said it expects Q1 LNG liquefaction volume at 7.6 million to 8 million tonnes, compared with Q4 volume of 7.8 million tonnes.
Marketing adjusted earnings are expected to be "significantly" higher from a year earlier, Shell added.
Shell shares were down over 5% in premarket trade Wednesday.
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