shell plc on thursday reported that its earnings increased in the fourth quarter reflecting higher oil gas and liquefied natural gas prices heres what the energy major had to say adjusted earnings for the quarter were 64 billion compared with the third quarter 2021 current quarter adjusted earnings reflected higher contributions from lng trading and optimisation and higher realised oil gas and lng prices this was partly offset by lower chemicals and marketing margins adjusted earnings for the quarter were 4052 million compared with the third quarter 2021 integrated gas adjusted earnings primarily reflected significantly higher contributions from lng trading and optimisation leveraging the scale and global reach of the shell lng portfolio and higher realised prices for lng oil and gas this was partly offset by higher operating expenditure compared with the full year 2020 integrated gas adjusted earnings primarily reflected higher realised prices for oil lng and gas favourable deferred tax movements and higher volumes this was partly offset by higher operating expenditure compared with the full year 2020 total oil and gas production increased by 3 mainly due to the restart of production at the prelude floating lng operations in australia and production sharing contract effects partly offset by field decline lng liquefaction volumes decreased by 7 due to feedgas constraints and higher maintenance activities partly offset by the restart of production at the prelude floating lng operations in australia compared with the third quarter 2021 upstream adjusted earnings reflected higher realised oil and gas prices lower depreciation and lower well writeoffs compared with the third quarter 2021 total production increased by 4 mainly due to favourable seasonal effects and the effects of hurricane ida in the third quarter 2021 partly offset by the impact of divestments compared with the full year 2020 upstream adjusted earnings reflected higher realised oil and gas prices the oneoff release of a tax provision in nigeria and lower depreciation partly offset by lower production volumes compared with the full year 2020 total production decreased by 8 mainly due to the impact of divestments and higher maintenance activities compared with the third quarter 2021 oil products adjusted earnings reflected higher operating expenses lower retail margins lower contributions from trading and optimisation and unfavourable deferred tax movements refining  trading adjusted earnings reflected lower contributions from trading and optimisation lower realised refining margins due to extended turnarounds and hurricane ida recovery efforts unfavourable deferred tax movements and the impact of divestments marketing adjusted earnings reflected higher operating expenses and lower margins mainly due to unfavourable seasonal effects refinery utilisation was 68 compared with 71 in the third quarter 2021 due to extended turnarounds and hurricane ida recovery efforts compared with the full year 2020 oil products adjusted earnings reflected lower contributions from trading and optimisation higher operating expenses and unfavourable deferred tax movements these were partly offset by higher marketing volumes and oil sands margins compared with the third quarter 2021 chemicals adjusted earnings reflected lower base chemicals margins hurricane ida recovery efforts unplanned maintenance and lower income from joint ventures and associates chemicals manufacturing plant utilisation was 75 compared with 78 in the third quarter 2021 due to hurricane ida recovery efforts unplanned maintenance and extended turnarounds compared with the full year 2020 chemicals adjusted earnings reflected higher realised margins in base chemicals and intermediates from a stronger price environment partly offset by the impact of hurricane ida integrated gas production is expected to be approximately 760 thousand820 thousand boed due to turnaround activities and lng liquefaction volumes are expected to be approximately 77 million83 million tonnes upstream production is expected to be approximately 20002200 thousand boed refinery utilisation is expected to be approximately 7179 oil products sales volumes are expected to be approximately 41005400 thousand bd of which marketing 23002800 thousand bd and refining  trading 18002600 thousand bd chemicals manufacturing plant utilisation is expected to be approximately 7886 chemicals sales volumes are expected to be approximately 33003700 thousand tonnes corporate adjusted earnings are expected to be a net expense of approximately 550 million650 million in the first quarter 2022 and a net expense of approximately 2200 million2600 million for the full year 2022 this excludes the impact of currency exchange rate effects cash capital expenditure for the full year 2022 is expected to be at the lower end of the 23 billion to 27 billion range