Shell to Take $2 Billion Impairment Charge Following Refinery Sale

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Shell has disclosed an impairment charge of up to $2 billion. This move comes after it sold its Singapore refinery.
Shell has disclosed an impairment charge of up to $2 billion. This move comes after it sold its Singapore refinery.

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.

James Adam

James Adam, a noted business writer for CEO Times Magazine, specializes in insightful industry analysis and executive profiles. Known for his clear, concise style, James offers readers an expert perspective on global business trends and market dynamics.

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