Energy giant Shell to take up to a $2 billion impairment hit on Rotterdam, Singapore plants

This comes after Shell on Tuesday announced it would temporarily suspend on-site construction at its 820,000 metric tons a year biofuels facility in Rotterdam amid current market conditions.

The company said it now expects the second-quarter performance of trading and optimization in the core gas division to come in line with the same period of last year but below the first quarter of 2024"due to seasonality."on Friday said it expects to record a post-tax impairment hit of up to $2 billion mainly linked to its Singapore and Rotterdam plants, while also saying trading in its key gas division will decline on the quarter.

"There is something for everyone in this release," RBC analysts said in a Friday note, signaling that, among core areas and operations, volumes of liquefied natural gas were"as expected, while upstream production was stronger than previously guided, and oil trading surprised to the upside."Real Estate

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