02:19 PM EST, 01/08/2025 (MT Newswires) -- (Updates with stock price movement in the headline and first paragraph.)

Shell's (SHEL) US-listed shares were down 2% in recent trading Wednesday after saying it expects weaker Q4 oil and gas trading results, compared with the prior quarter due to lower liquefied natural gas, or LNG, production and lower trading performance.

LNG liquefaction volumes are expected to stand at 6.8 million to 7.2 million metric tons, down from 7.5 million in Q3, Shell said.

The company also expects $1.5 billion to $3 billion in posttax impairments, including up to $1.2 billion in its renewables division.

Trading results in oil, gas and power are also expected to decline due to the expiration of hedging contracts from 2022.

Meanwhile, Shell said its chemicals and products division is also projected to report weaker results due to lower seasonal demand and reduced margins.

Price: 64.45, Change: -1.49, Percent Change: -2.25