Weakening refining, gas trading to hit Shell’s Q3 results

LONDON (Reuters) – Shell (LON:) said on Thursday that its third-quarter profits will be weakened by a sharp drop in refining margins and “significantly” weaker earnings from trading.

Indicative refining margins dropped to $15 a barrel in the quarter compared with $28 a barrel in the previous three months, Shell said in an update ahead of its results on Oct. 27.

Indicative margins for chemicals dropped to negative $27 per tonne versus a positive $86 in the second quarter amid a slump in demand for plastics.

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