shell PLC said third-quarter earnings were impacted by market volatility and higher cost to carry fuel In the midst of a global competition for energy supply.
The London-based company said Thursday that pricing and cost volatility due to a shortage of liquefied natural gas is likely to hurt profits from its giant gas business, which is usually its largest cash generator. However, Shell said overall marketing gains from trading in oil and other products were higher in the third quarter than in the previous quarter. The comments were included in a preview of Shell’s overall third quarter earnings, due later this month.
https://www.wsj.com/articles/shell-braces-for-profit-hit-from-volatile-natural-gas-prices-rising-costs-11665046849?mod=pls_whats_news_us_business_f Volatility in natural gas prices and higher costs hurt Shellbraces earnings