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Oil giant Royal Dutch Shell says it will take a £145m first-quarter hit from Texas freeze that left nearly 200 dead

Oil giant Royal Dutch Shell says it will take a £145m first-quarter hit from Texas freeze that left nearly 200 dead

  • Severe freezing weather hit Texas in February this year triggering many deaths
  • Millions of people were also left without power and Shell’s operations were hit 

Royal Dutch Shell has warned that the severe winter storm in Texas earlier this year looks set to hit its bottom line for the fist quarter.

In February, a snowstorm swept across Texas and swathes of North America, knocking out sections of the former’s electricity grid, leaving millions without power and nearly 200 people dead.

In an update on its first quarter, oil giant Shell said the storm had cost it around $200million, or around £145million, in the first quarter.

Democrat politicians in the US blamed the state’s deregulated electricity grid for the problems during the freezing conditions.

The Houston Chronicle reported that 16 people are believed to have died from carbon monoxide poisoning during the storm as they tried to keep warm, while around 24 others died when the medical devices they relied on stopped working.

The severe weather, which saw temperatures in Texas drop to their lowest for 40 years, also wiped out parts of Shell’s production in the area, and its upstream business now expects to produce around 2.4million barrels of oil or equivalents a day.

This is around 10,000 to 20,000 fewer barrels a day than normal.

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