...

Royal Dutch Shell’s production in Upstream to fall due to Texas winter storm

Oil&Gas Materials 7 April 2021 13:22 (UTC +04:00)
Royal Dutch Shell’s production in Upstream to fall due to Texas winter storm

BAKU, Azerbaijan, Apr.7

By Leman Zeynalova - Trend:

Production of Royal Dutch Shell in Upstream is expected to be between 2,400 and 2,475 thousand barrels of oil equivalent per day, including 10 to 20 thousand barrels per day lower production due to the Texas winter storm, Trend reports with reference to the company.

Adjusted Earnings are forecast to be positive in the first quarter 2021, capturing the upside from the current commodity price environment. Total Adjusted Earnings will be adversely impacted by up to $40 million due to operational impacts of the Texas winter storm.

Pre-tax depreciation is set to be between $3.1 and $3.4 billion. Currency effects are expected to adversely impact Adjusted Earnings by up to $200 million. Tax expenses are expected to be between $700 and $1,100 million. Tax paid is forecast to be between $500 and $750 million. Working capital outflows as expected due to increased receivables reflecting the higher commodity price environment.

Shell is an international energy company that aims to meet the world’s growing need for more and cleaner energy solutions in ways that are economically, environmentally and socially responsible.

It is a global group of energy and petrochemical companies.

Its operations are divided into four businesses: Upstream, Integrated Gas and New Energies, Downstream.

---

Follow the author on Twitter: @Lyaman_Zeyn

Tags:
Latest

Latest