[Scythian]

"Shell to take hit of up to $2bn on Rotterdam and Singapore sites
Oil firm’s warning comes after it had to halt work on Europe’s largest biofuel project and sell refinery in Asia

Fri 5 Jul 2024 05.25 EDT

Shell has warned investors that it will take an impairment charge of up to $2bn (£1.6bn) in its next set of results after it was forced to halt work on Europe’s largest biofuel project and sell off a Singapore refinery.

The oil company told investors to expect a non-cash writedown of between $600m and $1bn when it publishes its second-quarter results next month because of trouble at a major biofuel project in Rotterdam in the Netherlands.

The company also expects to take a hit of between $600m and $800m on the Singapore refining and chemicals hub that it agreed to sell in May."
https://www.theguardian.com/business/art...20in%20May.

[Scythian]

Shell oil refineries should have pulled out of Singapore 15 or 20 years ago..

Keep on obliging to keep extending 5 years after 5 years.

In business appraisal, Shell shouldn't feel sorry for Singapore.

[Scythian]

Shell is saying goodbye to Singapore

The end of an era