Historic Texas freeze cost Shell £145m

City A.M. | Apr 7, 2021 at 10:58 AM
  • Oil giant Shell has said that a storm that blanketed Texas in February, killing more than 100 people, will cost it around $200m (£145m) in adjusted earnings.
  • This is around 10,000 to 20,000 barrels lower as a result of the storm that caused widespread blackouts in Texas.
  • The dire conditions in the Lone Star state, the US’ energy heartland, saw a huge drop in oil production.