{"id":38400,"date":"2025-04-01T11:41:39","date_gmt":"2025-04-01T11:41:39","guid":{"rendered":"https:\/\/quickassetsmarket.com\/index.php\/2025\/04\/01\/shell-offloads-singapore-refinery-to-chandra-asri-glencore-joint-venture\/"},"modified":"2025-04-01T11:41:39","modified_gmt":"2025-04-01T11:41:39","slug":"shell-offloads-singapore-refinery-to-chandra-asri-glencore-joint-venture","status":"publish","type":"post","link":"https:\/\/quickassetsmarket.com\/index.php\/2025\/04\/01\/shell-offloads-singapore-refinery-to-chandra-asri-glencore-joint-venture\/","title":{"rendered":"Shell offloads Singapore refinery to Chandra Asri-Glencore joint venture"},"content":{"rendered":"
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Shell plc has successfully finalised the sale of its Singapore refinery and associated refining assets to a joint venture formed by Chandra Asri and Glencore, according to a Reuters report<\/a>.\u00a0<\/p>\n

This transaction marks a significant shift in ownership for the refinery and its assets.<\/p>\n

Acquisition and transition of refinery ownership<\/h2>\n

In addition to the announcement by Shell, trade sources have revealed that the new owners of the refinery have already commenced operations, actively purchasing feedstock required for refining processes. <\/p>\n

This indicates a seamless transition of ownership and a commitment to maintaining the refinery’s operations under the new joint venture.<\/p>\n

In 2022, Shell, the multinational oil and gas company<\/a>, finalised the sale of its Bukom and Jurong Island facility in Singapore to a joint venture.\u00a0<\/p>\n

The facility, which had been operational since 1961, was a significant asset in Shell’s portfolio. <\/p>\n

The majority stakeholder in the joint venture that acquired the facility was Chandra Asri, an Indonesian-based petrochemicals company. <\/p>\n

This acquisition significantly bolstered Chandra Asri’s position in the Southeast Asian petrochemicals market, making it one of the region’s largest players. <\/p>\n

The deal marked a strategic move for both Shell and Chandra Asri, with Shell divesting from the asset and Chandra Asri expanding its operational footprint and market share.<\/p>\n

The financial specifics of the agreement between Shell and Chandra Asri-Glencore joint venture, which was originally expected to be finalised by the end of 2024, have not been made public.<\/p>\n

Shell has announced that its employees at the site will transition to the new venture, Aster Chemicals and Energy Pte Ltd. <\/p>\n

This move ensures continuity of operations and expertise at the site, under the new ownership.<\/p>\n

Strategic moves by Chandra Asri<\/h2>\n

Following the recent acquisition and change in ownership, office-based employees have been relocated to a new office space. <\/p>\n

Chandra Asri, taking over the responsibility of Aster’s petrochemicals feedstock procurement, has proactively secured multiple open-spec naphtha purchases.<\/p>\n

These purchases, intended for arrival in Singapore, are scheduled to commence in March. <\/p>\n

This strategic move by Chandra Asri highlights their commitment to ensuring a consistent and reliable supply of feedstock for their petrochemical operations. <\/p>\n

The company’s decision to purchase open-spec naphtha allows for flexibility in sourcing and potentially offers cost advantages. <\/p>\n

By securing these purchases in advance, Chandra Asri demonstrates foresight and effective planning in managing their supply chain.<\/p>\n

The Shell Jurong Island chemicals site, a major player in the petrochemical industry, significantly bolstered its naphtha imports in 2023 and 2024. <\/p>\n

According to shiptracking data provided by Kpler, the facility imported approximately 1.5 million tons of naphtha annually during those years. <\/p>\n

This is a significant increase in the site’s feedstock requirements, potentially driven by expanded production capacities, new downstream projects, or shifts in the regional supply-demand dynamics for petrochemicals.<\/p>\n

Glencore\u2019s crude procurement<\/h2>\n

In the meantime, Glencore<\/a>, the Swiss commodity trading and mining company, has been actively securing crude oil supplies.\u00a0<\/p>\n

The company has made multiple purchases of crude oil scheduled to arrive in Singapore during May and June. <\/p>\n

Sources familiar with the transactions have revealed to Reuters that the oil originates from various regions, including Canada and Kazakhstan, indicating Glencore’s diversified sourcing strategy.<\/p>\n

The post Shell offloads Singapore refinery to Chandra Asri-Glencore joint venture<\/a> appeared first on Invezz<\/a><\/p>\n

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Shell plc has successfully finalised the sale of its Singapore refinery and associated refining assets to a joint venture formed by Chandra Asri and Glencore, according to a Reuters report.\u00a0 This transaction marks a significant shift in ownership for the refinery and its assets. Acquisition and transition of refinery ownership In addition to the announcement <\/p>\n","protected":false},"author":1,"featured_media":38401,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-38400","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-investing"},"_links":{"self":[{"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/posts\/38400","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/comments?post=38400"}],"version-history":[{"count":0,"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/posts\/38400\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/media\/38401"}],"wp:attachment":[{"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/media?parent=38400"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/categories?post=38400"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/tags?post=38400"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}