The harsh winter in Texas has a negative impact on the quarterly results of Royal Dutch Shell of up to $ 200 million.
For the upstream branch, Shell is counting on a positive adjusted profit in the first quarter, due to the increased oil price. Shell believes it has produced 2.4 to 2.475 million barrels of oil per day, despite the loss of production in Texas. The depreciation before taxes Shell estimates at 3.1 to 3.4 billion dollars.
The refineries had a utilisation rate of 71-75 percent last quarter. In addition, the margin increased compared to the fourth quarter. Shell also expects a higher result in Marketing compared to the last three months of 2020. Shell estimates the depreciation before tax for the oil products branch at 0.9 to 1.1 billion dollars.
For chemical branch, Shell also believes that the adjusted profit was positively influenced by the margins. Here the occupancy rate was probably between 77 and 81 percent.
Production at gas last quarter was between 920,000 and 960,000 barrels of oil equivalent per day. Shell believes that the trading sector has come well below the average. Shell estimates depreciation before taxes at 1.3 to 1.4 billion dollars.
Shell publishes the final quarterly figures on 29 April.