Shell announced it will take up to a $2 billion impairment charge. This decision follows the sale of its Singapore refinery and halting construction on one of Europe’s largest biofuel plants.
Singapore Refinery Sale:
The sale of the Singapore refinery marks a significant move in Shell’s strategy, and it will impact the company’s financials with a substantial impairment charge.
Additionally, Shell has paused the construction of a major biofuel plant in Europe, contributing to the overall impairment charge.
Financial Impact and Future Outlook:
These decisions reflect Shell’s ongoing adjustments to its portfolio and strategic direction. The company continues to prioritize its investments and operations to align with its long-term goals.