Shell expects its gas trading business to have been significantly lower in the second quarter, compared to a strong first quarter, due to seasonality and fewer optimization opportunities, the UK-based supermajor said in its second quarter 2023 update note on Friday. Shell anticipates the second-quarter contribution of the gas trading division to be in line with the average contribution of the second quarter in 2021 and 2022. For the first quarter, Shell reported adjusted earnings of $9.6 billion, driven by “strong trading and…
