Asia/Pacific News
Shell Signs Deal to Sell Singapore Refinery
Global energy producer Shell has signed a deal to sell its Singapore refinery.
The company will sell the 237,000 b/d Pulau Bukom plant to CAPGC Pte Ltd, a joint venture between Chandra Asri Capital Pte Ltd and Glencore Asian Holdings Pte Ltd, it said in an emailed statement on Wednesday.
The transaction is expected to be completed by the end of this year, subject to regulatory approval.
""We are proud of our history at Bukom and Jurong Island and our contributions to the economic growth of Singapore in this sector in the past decades," Huibert Vigeveno, downstream, renewable and energy solutions director at Shell, said in the statement.
"Our commitment to Singapore remains steadfast and its importance as a regional hub for our marketing and trading business remains important.
"As Singapore continues to decarbonise, Shell looks forward to a continued partnership with the country, and with our customers in the region."
The Pulau Bukom refinery is a major supplier of bunker fuels to the Singapore market.
