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Shell Warns Of $400 Mln Hurricane Ida Hit In Q3

Royal Dutch Shell plc (RDS-B, RDSB.L, RDSA.L, RDS-A) said that Hurricane Ida in the US Gulf of Mexico had an impact on its operations and is expected to have an aggregate adverse impact of around $400 million on adjusted earnings and cash flow from operations in the third quarter 2021.

In Integrated gas segment, quarterly production is expected to be between 890 and 950 thousand barrels of oil equivalent per day. LNG liquefaction volumes are expected to be between 7.0 and 7.5 million tonnes, reflecting feedgas constraints and additional maintenance. Trading and optimisation results are expected to be higher compared to the second quarter 2021.

In Oil Products segment, sales volumes are expected to be between 4,300 and 5,300 thousand barrels per day.

Chemical sales volumes for the third-quarter are expected to be between 3,400 and 3,700 thousand tonnes.

Corporate segment adjusted earnings are expected to be a net expense of $650 million to $750 million for the third quarter. This excludes the impact of currency exchange rate effects.

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Friday, August 12, 2022