Among other things, the construction of a biofuel plant in the Netherlands is not progressing as planned. This has consequences for the energy giant Shell.
The oil and gas company Shell expects write-downs of up to two billion US dollars (1.85 billion euros) in the second quarter. Shell justified this with delays in the construction of a biofuel plant in Rotterdam, among other things, according to a statement published in London on Friday. The construction pause will lead to write-downs of 600 million to one billion dollars, the company said. Shell is also writing off 600 to 800 million dollars on a chemical plant in Singapore.
The group also announced lower gas trading revenues for the second quarter. The results are expected to be at the same level as last year, but below those of the first quarter. Shell justified this with seasonal shifts. Gas trading has recently been a major driver of earnings at Shell. The group plans to present the figures on August 1st.
Source: Stern
