Singapore Refinery and Petrochemical Assets to Chandra Asri-Glencore Joint Venture

The strategic sale includes significant facilities on Bukom and Jurong islands, aligning with Shell's global carbon reduction goals.

Shell agrees to sell its Singapore refinery and petrochemical assets, enhancing its strategy to lower carbon emissions.
The deal, expected to close by end of 2024, is subject to regulatory approvals and has not disclosed financial terms.
Chandra Asri and Glencore gain strategic footholds in one of the world's premier oil hubs, potentially boosting their ASEAN market presence.
The transaction includes a refinery with a capacity of 237,000 barrels per day and a major ethylene production plant.
Shell reaffirms its commitment to Singapore, emphasizing the region's role in its ongoing marketing and trading operations.