Asia/Pacific News
Glencore May Buy Shell Singapore Refinery: Report
Friday March 1, 2024
Global commodity trading firm Glencore is reportedly considering buying Shell's Singapore refinery and other local assets.
Glencore is working with Indonesia's PT Chandra Asria Petrochemical to evaluate the 237,000 b/d Pulau Bukom refinery and other assets, news agency Reuters reported this week, citing industry and trading sources.
The Pulau Bukom refinery is a major supplier of bunker fuels to the Singapore market.
CNOOC and Vitol were among firms that had previously shown interest in acquiring the assets.
Glencore's only refinery at present is a 100,000 b/d plant in Cape Town.
Glencore was listed as Singapore's 11th-largest bunker supplier by volume last year, up from 13th place in 2022.
