05:24 AM EDT, 07/05/2024 (MT Newswires) -- Shell (SHEL) said Friday it expects to book $1.5 billion to $2 billion of non-cash post-tax impairments in Q2, mainly related to its plants in Singapore and Rotterdam, Netherlands.

Earlier in the week, Shell said it would halt the construction at its Rotterdam plant, citing current market conditions. The British oil major expects an impairment of $600 million to $1 billion related to the facility, it said Friday.

Meanwhile, the Singapore facility, which the company agreed to sell in May, is expected to contribute $600 million to $800 million in impairments.

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