Shell to take $2bn impairment charge from Singapore refinery sale and Rotterdam biofuel plant suspension.
Shell plans to take a $2bn impairment charge following the sale of its Singapore refinery and the suspension of construction on its Rotterdam biofuel plant due to weak market conditions. The company expects a post-tax non-cash impairment of between $600m and $1bn when it publishes its Q2 results on August 1. The Rotterdam biofuels facility, initially planned to produce 820K metric tons annually, has been halted due to current market conditions.
July 05, 2024
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