Asia/Pacific News
Potential Shell Acquisition of BP Would Unite Two of Singapore's Largest Bunker Suppliers
A potential acquisition of global energy company BP by rival firm Shell, currently under discussion by its management, would bring together two of Singapore's largest bunker suppliers.
Shell has been discussing with its advisers the feasibility and merits of acquiring BP in recent weeks, news agency Bloomberg reported on Saturday, citing sources familiar with the matter.
Whether the acquisition goes ahead would depend on how stock prices move amid the current downturn in crude.
The potential deal would have profound impacts across a range of energy markets.
In bunkers, the most immediate impact would be likely to be seen in the union of two of Singapore's largest bunker suppliers.
BP was listed by the MPA as being in the top ten of its licensed bunker suppliers by volume in 2024, and came in at seventh place in 2023 and sixth in 2022.
2024 was the first year where the MPA published only an alphabetical list of its top ten suppliers, rather than a full list of all suppliers ranked by sales volumes.
Shell Eastern Trading did not make the top ten list in 2024, but was listed in ninth place in 2023 and fifth place in 2022. Another Shell subsidiary, Shell Singapore - previously Shell Eastern Petroleum - was listed in 41st place in 2023 and 42nd in 2022.
In May 2024 Shell signed a deal to sell its 237,000 b/d Pulau Bukom refinery in Singapore to CAPGC Pte Ltd, a joint venture between Chandra Asri Capital Pte Ltd and Glencore Asian Holdings Pte Ltd.
