The Associated Press
LONDON -- Oil giant Royal Dutch Shell warned Thursday that it will take an earnings hit of up to $500 million as a result of the disruptions caused by Hurricane Ida, which hit the Gulf of Mexico in late August., which prompted oil companies operating in the Gulf of Mexico to shut down operations and evacuate workers for a few days, has reduced oil production by around 90,000 barrels a day.
However, it said there were also sizeable effects in Shell's chemicals and oil products divisions, worth $100 million and $50 million-$100 million, respectively.The update, which comes ahead of third-quarter results on Oct. 28, was brushed aside inOil companies, like Shell, are benefitting from a huge spike in oil prices over recent weeks as the recovery from thepandemic drives up demand.
Shell said that over the full year, every $10 increase in the cost of Brent crude adds around $3 billion to upstream annual earnings and $1.1 billion to integrated gas earnings, all other factors notwithstanding.An earlier version of this story was corrected to show Shell said the total earnings impact was up to $500 million, not $500 billion.
Shells executives still a making millions, no worries there.
But who will pay? Us.
Yet their accounts are flush with cash
They made $180 Billion last year. $500 million is literally a single day for them(assuming a 7 day work week) or 5 hours ( for the 5 day work week). I think they'll be able to keep the lights on.
Awwww, too bad. Maybe their multi millionaire and billionaire executives can take a pay cut to offset the cost in like, just a few weeks or less.
What about the $billions you made before and after?🖕