Royal Dutch Shell Warns of $400 Million Hurricane Ida Hit; Says 3Q Performance Stronger Than 2Q

Royal Dutch Shell PLC (RDS/A) 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; @sabelaojeaguix

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  10-07-21 0246ET
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