Shell to sell Singapore assets to Chandra Asri and Glencore’s JV
by ChemOrbis Editorial Team - content@chemorbis.com
According to a press release on the company’s website, Shell will sell all shares of its Singapore assets to CAPGC Pte. Ltd., a joint venture company between Indonesia’s Chandra Asri and Glencore. The assets include a 237,000 barrels/day refinery and a 1 million tons/year ethylene cracker in Bukom and Jurong islands.
Shell enlisted Goldman Sachs to explore potential sale of Singapore assets in August last year. CNOOC, Eversun Holdings and Wanhua Chemical were reportedly interested in the assets before dropping out in February.
Subject to regulatory approval, the transaction is expected to be completed by the end of 2024, Shell said.
Shell enlisted Goldman Sachs to explore potential sale of Singapore assets in August last year. CNOOC, Eversun Holdings and Wanhua Chemical were reportedly interested in the assets before dropping out in February.
Subject to regulatory approval, the transaction is expected to be completed by the end of 2024, Shell said.
More free plastics news
Plastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...- March hints at further hikes in European PP, PE markets
- India’s PVC market dips to new lows on Taiwan’s March cuts, players seek signs of bottom
- Q1 turnarounds uplift Mid-East PP, PE markets in February; will it spill over to March?
- SE Asia’s indefinite PE shutdowns: A market in crisis as demand woes threaten survival
- Türkiye’s PPH markets perform better than copolymers in February
- Margin recovery priorities outweigh supply imbalances in European PVC markets
- Asian PVC demand stagnant; recovery hopes shift to end of Q1
- Tough slog in S Korea’s petchem industry spells disappointing 2024 financial results; will government's recent plan help weather the storm?
- China’s PP, PE markets face post-holiday supply surge and tepid demand
- A tug-of-war unfolds in Türkiye as PVC demand struggles against rising costs
