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Shell to reduce crude processing capacity at Pulau Bukom refinery

1 min read | November 11, 2020 10:34 AM GMT | By Team Kalkine Media
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Royal Dutch Shell Plc (LON:RDSA) as a part of its drive to reduce CO2 emission, is reportedly going to reduce crude processing capacity at its Singapore refinery, Pulau Bukom.

  • The move would bring down the total refining capacity cuts by the company in recent months to 571,000 barrels per day and would also lead to jobs reduction.
  • Shell has targeted to slash carbon dioxide emissions to net zero by 2050 and is accordingly restructuring its operations by slashing its oil and gas business.
  • The company is also likely to make a call for the reversal of the outgoing US President Donald Trump’s rollback of methane emissions regulations and the initiation of carbon pricing, when Joe Biden takes charge.
  • On 11 November 2020, the stocks of the company declined by 0.20% from its previous closing, hovering at around GBX 1,176.80 at 09:14 AM GMT+1.

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