+
Shell to suspend construction work at Dutch biofuels project
POWER & RENEWABLE ENERGY

Shell to suspend construction work at Dutch biofuels project

Shell will stop building at the Dutch biofuels project when the market declines. Companies seldom pause the progress of ongoing initiatives. Last week, rival BP said that it was halting two biofuel projects in Germany and the US. This year, Shell's stock has increased by more than 11%. Originally scheduled to begin production in 2025, Shell approved the building of the 820,000-tonne-per-year facility in the Netherlands in September 2021. It is currently anticipated that the project will launch online before the end of the decade. The project in its Rotterdam chemicals park was intended to generate renewable diesel from waste and sustainable aviation fuel. Joshua Stone, an analyst at UBS, stated that the suspension was in line with Shell's return-focused approach. "The postponements underscore the difficulty of breaking into the advanced biofuels sector. The oil majors have dabbled and discovered that it's difficult, "explained Stone. In addition, Shell stated that it would take the project's impairment into account. It will give further information in its quarterly trade update on Friday.

Shell will stop building at the Dutch biofuels project when the market declines. Companies seldom pause the progress of ongoing initiatives. Last week, rival BP said that it was halting two biofuel projects in Germany and the US. This year, Shell's stock has increased by more than 11%. Originally scheduled to begin production in 2025, Shell approved the building of the 820,000-tonne-per-year facility in the Netherlands in September 2021. It is currently anticipated that the project will launch online before the end of the decade. The project in its Rotterdam chemicals park was intended to generate renewable diesel from waste and sustainable aviation fuel. Joshua Stone, an analyst at UBS, stated that the suspension was in line with Shell's return-focused approach. The postponements underscore the difficulty of breaking into the advanced biofuels sector. The oil majors have dabbled and discovered that it's difficult, explained Stone. In addition, Shell stated that it would take the project's impairment into account. It will give further information in its quarterly trade update on Friday.

Next Story
Infrastructure Urban

ITCONS Gains on New Rs 3.5 Million Defence Contract

ITCONS E-Solutions is trading at Rs 549.00, up by Rs 12.10 or 2.25 per cent from its previous close of Rs 536.90 on the BSE. The scrip opened at Rs 549.00 and has touched an intraday high and low of Rs 549.00, with 200 shares traded so far.A BSE ‘MT’ group stock with a face value of Rs 10, ITCONS touched its 52-week high of Rs 767.00 on 25 September 2024 and a 52-week low of Rs 166.70 on 5 August 2024. Over the past week, the stock has fluctuated between Rs 560.00 and Rs 510.60. The company's current market capitalisation stands at Rs 3.3 billion.Promoters hold 58.22 per cent of the compan..

Next Story
Infrastructure Urban

Delhi Extends EV Policy Till March 2026

The Delhi government has extended its existing Electric Vehicle (EV) Policy until 31 March 2026, or until a revised version is approved. The decision was made during a Cabinet meeting chaired by Chief Minister Rekha Gupta on Tuesday.According to Transport Minister Pankaj Kumar Singh, the draft of the new policy will undergo broader public consultation before being finalised, prompting the extension to allow time for thorough stakeholder engagement.The consultation process will include inputs from citizens, environmental groups, academic institutions, industry experts, and private firms. Key fo..

Next Story
Infrastructure Urban

Ather Crosses 400 Fast Chargers in Maharashtra

Electric two-wheeler manufacturer Ather Energy announced on Thursday that it has surpassed 400 fast charging points under its Ather Grid network across Maharashtra.The company's fast charging infrastructure now spans 35 cities in the state, including key urban centres such as Mumbai, Nashik, Pune, and Nagpur."Crossing 400 fast chargers in the state is about giving riders the assurance that they'll always find a charger when they need one. As we expand our retail presence, the charging network will continue to grow in tandem to make EV ownership truly seamless," said Ravneet Singh Phokela, Chie..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?