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Shell shares slump as integrated gas performance and refining margins fall

Shell shares slump as integrated gas performance and refining margins fall

Shares of Shell fell as much as 4% as the oil giant said its integrated gas division performance will be much lower than the second quarter, as it also flagged a decline in refining margins. Analysts at UBS said the combined impact is a quarter-on-quarter decline of $1.3 billion to $2 billion in adjusted earnings, versus consensus expectations for a $400 million fall.