Hurricane Ida lands $500m blow to Shell’s Q3 earnings forecast

In an SEC filing yesterday, Royal Dutch Shell provided an update to its third-quarter 2021 outlook.

The report notes that Hurricane Ida, which hit the US Gulf of Mexico in August, had an aggregate adverse impact of up to $500m on the company’s adjusted earnings for the quarter: upstream operations are expected to be impacted by between $200m and $300m; oil products by between $50m and $100m; and chemicals by approximately $100m.

In September, Shell reported that its West Delta-143 (WD-143) facilities sustained significant structural damage during the hurricane; some of the platform facilities will likely be offline for repairs until the end of 2021.

Kim Biggar

Kim Biggar started writing in the supply chain sector in 2000, when she joined the Canadian Association of Supply Chain & Logistics Management. In 2004/2005, she was project manager for the Government of Canada-funded Canadian Logistics Skills Committee, which led to her 13-year role as communications manager of the Canadian Supply Chain Sector Council. A longtime freelance writer, Kim has contributed to publications including The Forwarder, 3PL Americas, The Shipper Advocate and Supply Chain Canada.
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