Royal Dutch Shell Warns of $400 Million Hurricane Ida Hit; Says 3Q Performance Stronger Than 2Q
October 07 2021 - 3:01AM
Dow Jones News
By Sabela Ojea
Royal Dutch Shell PLC said Thursday that performance and
optimization results for the third quarter of the year are expected
to be above those of the prior quarter, though Hurricane Ida in the
U.S. Gulf of Mexico hit its financial operations.
The Anglo-Dutch energy giant, a top provider of jet fuel, said
Hurricane Ida is expected to add losses of around $400 million to
its adjusted earnings and clash flow from operations in the third
quarter.
The London-listed company said that production for the third
quarter is anticipated to be between 890,000 and 950,000 barrels of
equivalent oil per day. It said it expects a third-quarter pretax
depreciation of in between $1.3 billion and $1.4 billion.
Oil products sales volumes are expected to reach between 4.3
million and 5.4 million barrels of oil per day, the company
said.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
October 07, 2021 02:46 ET (06:46 GMT)
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