Serious End of Shell in Singapore

[Pinkieslut]

Oil demand is expected to crash due to rise of EVs and peak population growth:



From Google AI:

In recent months, Shell has been selling off its Singapore assets, including its refinery and chemicals hub, as part of a broader strategy to reduce its carbon footprint and focus on more profitable businesses like LNG. This has led to a significant restructuring of Shell's operations in Singapore. [1, 2, 3]
Here's a more detailed breakdown: [1, 2]

• Shell's Strategic Review: In June 2023, Shell initiated a strategic review of its assets in Singapore, aiming to reduce its carbon footprint and focus on its most profitable businesses, such as liquefied natural gas (LNG). [1, 2]
• Sale of Singapore Refinery and Chemicals Hub: As part of this strategy, Shell announced the sale of its Energy and Chemicals Park in Singapore to CAPGC, a joint venture between Chandra Asri and Glencore. [1, 3, 4]
• Reasons for the Sale: The sale is part of Shell CEO Wael Sawan's plan to reduce the company's carbon footprint and focus on its most profitable businesses. [1, 2]
• Impairment: Shell expects to take an impairment of $600 to $800 million on the Singapore refining and chemicals hub that it agreed to sell in May. [5]
• Other Actions: Shell also announced a pause in construction of a biofuels plant in Rotterdam, which will result in a non-cash post-tax impairment of US$600 million to US$1 billion. [5, 6]
• Shell's Focus: Shell is now focusing on its most profitable businesses, such as liquefied natural gas (LNG) and renewable energy. [1, 2]
• Impact on Singapore: The sale of Shell's Singapore assets is expected to have a significant impact on the Singapore economy, as the refinery and chemicals hub are major contributors to the country's economy. [1, 7]

[1] https://www.reuters.com/markets/deals/shells-singapore-refinery-sale-its-market-significance-2024-05-08/
[2] https://www.businesstimes.com.sg/companies-markets/shell-selling-its-first-born-singapore-and-its-energy-transition-and-growth-plans
[3] https://www.shell.com/news-and-insights/newsroom/news-and-media-releases/2024/shell-to-sell-interest-in-singapore-energy-and-chemical-park.html
[4] https://www.icis.com/explore/resources/news/2024/11/14/11050478/shell-singapore-site-divestment-deal-to-be-completed-in-q1-2025
[5] https://www.reuters.com/business/en...tedown-singapore-rotterdam-plants-2024-07-05/
[6] https://www.businesstimes.com.sg/in...plant-delay-cost-shell-us2-billion-impairment
[7] https://www.reuters.com/markets/deals/chandra-asri-purchase-shell-singapore-refinery-brings-scale-risk-2024-05-09/
[-] https://www.reuters.com/business/en...tedown-singapore-rotterdam-plants-2024-07-05/

 

[syed putra]

Not really. IN order to comply with Paris protocol, oil companies are focusing on lng, considered clean energy and less on oil.

 

[winners]

Once the 5-minute charging capability by BYD is confirmed to be in reality and safe to use, they can convert all the pumps at their petrol stations to EV charging points. At 5 minutes of charging, it'll be business as usual just like filling up with petrol.

The fear is should 1 of the super quick charge EV goes kaboom, the whole station goes as well.

 

[syed putra]

BP was thinking of investing big in renewable but has since rescind this based on Trump not implementing Paris Agreement on climate change. I presume other oil Companies also the same.

 

[KingFook Sr]

Once the 5-minute charging capability by BYD is confirmed to be in reality and safe to use, they can convert all the pumps at their petrol stations to EV charging points. At 5 minutes of charging, it'll be business as usual just like filling up with petrol.

The fear is should 1 of the super quick charge EV goes kaboom, the whole station goes as well.

Your concerns are valid.
Leave it to the industry to mitigate such problems.
In the past, petrol fire/explosions at filling stations used to be dangerous. That passed.

 

[syed putra]

Once the 5-minute charging capability by BYD is confirmed to be in reality and safe to use, they can convert all the pumps at their petrol stations to EV charging points. At 5 minutes of charging, it'll be business as usual just like filling up with petrol.

The fear is should 1 of the super quick charge EV goes kaboom, the whole station goes as well.

NIO already has a battery swap that takes less than 5 minutes.the good thing about this is as the battery technology progress, you get the latest if it's available.

 

[k1976]

Oil demand is expected to crash due to rise of EVs and peak population growth:



From Google AI:

In recent months, Shell has been selling off its Singapore assets, including its refinery and chemicals hub, as part of a broader strategy to reduce its carbon footprint and focus on more profitable businesses like LNG. This has led to a significant restructuring of Shell's operations in Singapore. [1, 2, 3]
Here's a more detailed breakdown: [1, 2]

• Shell's Strategic Review: In June 2023, Shell initiated a strategic review of its assets in Singapore, aiming to reduce its carbon footprint and focus on its most profitable businesses, such as liquefied natural gas (LNG). [1, 2]
• Sale of Singapore Refinery and Chemicals Hub: As part of this strategy, Shell announced the sale of its Energy and Chemicals Park in Singapore to CAPGC, a joint venture between Chandra Asri and Glencore. [1, 3, 4]
• Reasons for the Sale: The sale is part of Shell CEO Wael Sawan's plan to reduce the company's carbon footprint and focus on its most profitable businesses. [1, 2]
• Impairment: Shell expects to take an impairment of $600 to $800 million on the Singapore refining and chemicals hub that it agreed to sell in May. [5]
• Other Actions: Shell also announced a pause in construction of a biofuels plant in Rotterdam, which will result in a non-cash post-tax impairment of US$600 million to US$1 billion. [5, 6]
• Shell's Focus: Shell is now focusing on its most profitable businesses, such as liquefied natural gas (LNG) and renewable energy. [1, 2]
• Impact on Singapore: The sale of Shell's Singapore assets is expected to have a significant impact on the Singapore economy, as the refinery and chemicals hub are major contributors to the country's economy. [1, 7]

[1] https://www.reuters.com/markets/deals/shells-singapore-refinery-sale-its-market-significance-2024-05-08/
[2] https://www.businesstimes.com.sg/companies-markets/shell-selling-its-first-born-singapore-and-its-energy-transition-and-growth-plans
[3] https://www.shell.com/news-and-insights/newsroom/news-and-media-releases/2024/shell-to-sell-interest-in-singapore-energy-and-chemical-park.html
[4] https://www.icis.com/explore/resources/news/2024/11/14/11050478/shell-singapore-site-divestment-deal-to-be-completed-in-q1-2025
[5] https://www.reuters.com/business/en...tedown-singapore-rotterdam-plants-2024-07-05/
[6] https://www.businesstimes.com.sg/in...plant-delay-cost-shell-us2-billion-impairment
[7] https://www.reuters.com/markets/deals/chandra-asri-purchase-shell-singapore-refinery-brings-scale-risk-2024-05-09/
[-] https://www.reuters.com/business/en...tedown-singapore-rotterdam-plants-2024-07-05/

Ownself shot ownself strategy?

 

[k1976]

NIO already has a battery swap that takes less than 5 minutes.the good thing about this is as the battery technology progress, you get the latest if it's available.

Dun forget battery car insurance is Jin high high kiss the sky

 

[winners]

NIO already has a battery swap that takes less than 5 minutes.the good thing about this is as the battery technology progress, you get the latest if it's available.

NIO's battery swapping technology will not work unless all the other EV brands will use the same technology, which in reality, is totally impossible. Each EV manufacturer has their own battery standard/technology and will never want to use their competitors'. Also, all battery platforms must be more or less similar in order to utilize NIO's battery swapping technology, which will be another big hindrance. So, eventually, other than within China, I predict it may be a flop Internationally because of low take up rate and especially if BYD is not on the bandwagon. And it is unlikely especially when they have just announced their 5-minute charging battery technology, if it can be true, safe and workable.

The rivalry in the VCR technology between BETAMAX and VHS was a good example.

 

[Loofydralb]

Shell is a very badly run company, especially the unit that is in Singapore. I have many friends in the industry that tells me how incompetent the local management is.

They're wasteful and has no initiative to make operations efficient. It's an porcelain rice bowl, paid well and low expectations.

Now that the new company has taken over, it does not bode well that four months later, the name and logos of old Shell is still hung up at the entrances. No surprises because the same management people are still running the place.

It's a general consensus that the new company will go belly up in two years.
They didn't replace the bad people and expect a different result?

 

[Sinkiesuk]

Oil gas in the early days was good until china.... Everything was good until china....

 

[cocobobo]

Renewable is not dependable. You still need oil, gas and coal as base load. Will be 20 years until you can say end to Shell, BP, Exxon etc