Shell: quarterly trading update deemed disappointing
(CercleFinance.com) - Shell's share price is struggling on Wednesday, after the energy group released Q1 estimates that were deemed disappointing by the market.
In mid-morning trading in Amsterdam, its share was down less than 0.2%, just underperforming the Euro STOXX 50 index (down 0.1%), while the STOXX European oil stocks index was up 0.1%.
In a statement published this morning, the Anglo-Dutch major indicated that the cold snap that hit Texas in February disrupted its activities in the region, with a financial impact that could reach 200 million dollars in its adjusted Q1 result.
In its upstream business, hydrocarbon production is expected to be between 2.40 and 2.475 million barrels of oil equivalent per day, taking into account the 10,000 to 20,000 barrels lost per day due to the bad weather in Texas.
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In mid-morning trading in Amsterdam, its share was down less than 0.2%, just underperforming the Euro STOXX 50 index (down 0.1%), while the STOXX European oil stocks index was up 0.1%.
In a statement published this morning, the Anglo-Dutch major indicated that the cold snap that hit Texas in February disrupted its activities in the region, with a financial impact that could reach 200 million dollars in its adjusted Q1 result.
In its upstream business, hydrocarbon production is expected to be between 2.40 and 2.475 million barrels of oil equivalent per day, taking into account the 10,000 to 20,000 barrels lost per day due to the bad weather in Texas.
Copyright (c) 2021 CercleFinance.com. All rights reserved.