Shell Flags $400 Million Hit from Hurricane Ida to Earnings

However, in an update ahead of quarterly results this month, Shell also flagged a boost to cash flows from soaring natural gas and electricity prices.

Ron Bousso, Reuters

Royal Dutch Shell Plc warned on Oct. 7 of a $400 million hit to third-quarter earnings from the damage caused by August’s Hurricane Ida.

However, in an update ahead of quarterly results this month, the oil major also flagged a boost to cash flows from soaring natural gas and electricity prices.

Gas and power prices have been surging as tight gas supplies have collided with strong demand in economies recovering from the COVID-19 pandemic.

Already have an account? Log In

Sign up for FREE access to view this article now!

Unlock Free Access