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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.
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.
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.
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