Shell Flags $200 Million Hit to 1Q Earnings From Texas Storm
By Jaime Llinares Taboada
Royal Dutch Shell PLC on Wednesday warned that the Texas winter
storm is expected to have had a negative impact of $200 million on
its first-quarter adjusted earnings.
In addition, the FTSE 100 oil and gas major said it expects to
report natural gas production of between 920,000 and 960,000
oil-equivalent barrels a day for the first quarter, combined with
liquefied natural gas volumes of 7.8 million-8.4 million metric
tons. This compares with previous guidance of 900,000-950,000
barrels and 8.0 million-8.4 million tons.
For the upstream business, production is expected at 2.40
million-2.475 million oil-equivalent barrels a day, including a
10,000-20,000 barrels hit from the Texas storms. This compares with
previous guidance of 2.40 million-2.60 million barrels.
Sales volumes for oil products have been downgraded to 3.7
million-4.7 million barrels a day from 4.0 million-5.0 million.
Sales volumes for the chemicals division have been revised down to
3.5 million-3.7 million tons from 3.6 million-3.9 million.
Write to Jaime Llinares Taboada at email@example.com;
(END) Dow Jones Newswires
April 07, 2021 02:38 ET (06:38 GMT)
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