Shell has taken a £450million hit from stopping a major biofuels project in Rotterdam.
The FTSE 100 oil giant axed the Dutch site last month after spending around a year on pause due to technical issues.
Shell said yesterday that the cost of the move would be felt in the third quarter.
But shares rose 1.5 per cent as it also told investors trading in its integrated gas division is set to have been ‘significantly higher’ in the third quarter of 2025 than the previous quarter.
The company also lifted its production guidance for the amount of liquified natural gas (LNG) it would produce. The group said it expects to deliver profits of around £3.2billion for the third quarter.
Garry White of broker Charles Stanley said: ‘Shell’s third-quarter results highlighted the company’s resilience in a softer commodity environment.’
Shelved: A cyclist rides past Shell’s refinery Rotterdam. The FTSE 100 oil giant axed a biofuels project in the City last month due to technical issues
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