Shell sees Q1 earnings taking $200M hit from Texas storm

On Wednesday, Royal Dutch Shell said, it expects its first-quarter adjusted earnings to take a hit of up to $200 million due to an extreme cold snap in Texas in the quarter.

In a guidance update ahead of its first-quarter results scheduled for April 29, Shell, the world’s biggest fuel retailer, said it saw refined oil product sales at between 3.7 and 4.7 million barrels per day (bpd) for the first quarter.

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