Shell Estimates Losses From Texas Winter Storm at Up to $200Mln in Q1 2021

MOSCOW (Sputnik) – UK-Dutch oil and gasoline firm Royal Dutch Shell estimates potential losses due to extreme chilly climate that hit the US state of Texas in February at up to $200 million in adjusted earnings for the primary quarter of 2021, the corporate mentioned on Wednesday.

“The Texas winter storm had an impact on our operations and is expected to have an aggregate adverse impact of up to $200 million on adjusted earnings,” the assertion mentioned.

In addition, the corporate launched the forecast for its first quarter manufacturing efficiency. The manufacturing of gasoline is predicted to be between 920,000 and 960,000 barrels of oil equal per day, whereas LNG liquefaction volumes are anticipated to be between 7.8 and eight.4 million tonnes.

Hydrocarbon manufacturing is predicted to be between 2.4 and a pair of.475 million barrels of oil equal per day, together with a discount by 10,000-20,000 barrels per day due to the Texas winter storm. Chemicals gross sales volumes are anticipated to be between 3.5 and three.7 million tonnes

A extreme winter storm hit a number of US states in February, significantly affecting Texas. The storm triggered energy outages, meals and water shortages for hundreds of thousands of residents amid the Arctic chilly blast in addition to disruptions in oil manufacturing and development of costs for gasoline and electrical energy.

Royal Dutch Shell is engaged in the manufacturing and processing of hydrocarbons in greater than 70 nations.


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