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Shell takes $500M hit in wake of Hurricane Ida

October 7, 2021


Shell’s financial forecast is looking a little cloudy.

Royal Dutch Shell on Thursday said its earnings will take a hit of between $350 million and $500 million due to disruptions caused by Hurricane Ida when it struck the Gulf of Mexico in August, The Associated Press reports.

Oil production was reduced by about 90,000 barrels a day as a result of the hurricane, which led oil companies in the Gulf to cease operations for several days and evacuate workers, Shell told shareholders.

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