Shell dealt $1bn blow from halting construction of green fuel factory [Yahoo! Finance]
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BP p.l.c. (BP)
Last bp p.l.c. earnings: 4/29 04:01 pm
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Source: Yahoo! Finance
The oil and gas giant unveiled the impairment on Friday morning, just days after it paused activity at a site in Rotterdam that was designed to supply European airlines and hauliers with sustainable fuels. The decision has dealt a blow to airlines' hopes of offering passengers low-carbon flights, with the company blaming the decision on rising costs and weak pricing. The facility would have had the capacity to produce 820,000 tonnes of biofuels a year, half of which was to be used for sustainable aviation fuel (SAF) made from waste cooking oil and animal fat. Sustainable jet fuel has been at the forefront of airlines' plans to sell flights as “low carbon”, as they strive to reduce the industry's impact on the environment. Shell had been touted as a key SAF supplier after its Dutch subsidiary announced the biofuel project in 2021. Operations had been expected to start in 2025. The announcement was one of a series of setbacks for low-carbon projects by big energy companies.
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BP
Earnings
- 5/8/24 - Miss
BP
Sec Filings
- 7/1/24 - Form 6-K
- 7/1/24 - Form 6-K
- 6/24/24 - Form 11-K
- BP's page on the SEC website