Shell to take hit of up to $2bn on Rotterdam and Singapore

Oil firm’s warning comes after it had to halt work on Europe’s largest biofuel project and sell refinery in Asia

Shell has warned investors that it will take an impairment charge of up to $2bn (£1.6bn) in its next set of results after it was forced to halt work on Europe’s largest biofuel project and sell off a Singapore refinery.

The oil company told investors to expect a non-cash writedown of between $600m and $1bn when it publishes its second-quarter results next month because of trouble at a major biofuel project in Rotterdam in the Netherlands.