Shell Sees Up to $2 Billion Writedown After Biofuels Delay.

Shell Plc is expecting up to $2 billion in impairments in its second-quarter earnings due to delays in the construction of a biofuels plant in the Netherlands and the sale of its chemicals facility in Singapore. The company has decided to temporarily halt the Dutch project to reassess its approach, resulting in a non-cash post-tax impairment of $600 million to $1 billion. Additionally, a further writedown of $600 million to $800 million is anticipated for the Singapore facility. Shell's gas trading results are also expected to be lower in the second quarter due to seasonal shifts in the market. [Extracted from the article]