SHELL: OIL GIANT CONSIDERING PLANT CLOSURES IN EUROPE

British oil giant Shell is considering closing several plants in Europe and partnering with projects in the United States. The company's message dedicated to the Investor Day is reported by TASS.

Shell intends to use the measures under discussion to allow its chemicals business to thrive, increase profitability and reduce capital expenditure by 2030.

"To extract greater value from our strong portfolio of chemicals assets by exploring strategic and partnership opportunities in the United States, as well as high-quality projects and selective closures in Europe," the company explained.

In the summer of 2024, a forecast emerged that British oil giant Shell risks losing up to a billion dollars. The reason is the closure of a biofuel plant in Rotterdam, which was one of the company's largest projects for the transition to alternative energy.

In December 2024, Shell closed its oil refinery on the island of Pulau Bukom in Singapore. The reason why the oil giant stopped operations was the spill into the sea of ​​several tons of oil products and water used for processing raw materials. The island is home to Shell's only chemical and energy park in Asia.