Overview

• Shell will take up to a $1 billion hit from pausing the Rotterdam biofuels project due to technical delays and market conditions.
• The Rotterdam facility was intended to produce 820,000 tonnes of sustainable aviation fuel and renewable diesel annually.
• A further $600-800 million writedown is linked to the sale of Shell's Singapore refining and chemicals plant.
• Shell's decision reflects broader challenges in the green energy sector, as other companies also scale back low-carbon projects.
• The company's shift in strategy under CEO Wael Sawan emphasizes profitability over aggressive decarbonization efforts.