Royal Dutch Shell plc Royal Dutch Shell Plc 4th -3- : vimars

Royal Dutch Shell plc Royal Dutch Shell Plc 4th -3-


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Dow Jones
Feb 4, 2021 7:16 AM UTC
longer included in sales volumes (see Note 2). Excluding this impact,
Oil Products sales volumes decreased due to the impact of COVID-19 with
lower Refining & Trading and Marketing sales volumes, compared with the
fourth quarter 2019.
--Refining & Trading Adjusted Earnings reflected lower realised refining
margins, and lower contributions from trading and optimisation. This was
partly offset by favourable deferred tax movements and lower operating
expenses, compared with the fourth quarter 2019.
--Marketing Adjusted Earnings reflected lower marketing sales volumes
and unfavourable deferred tax movements, partly offset by strong retail
and global commercial margins, and lower operating expenses, compared

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