Glencore-Chandra Asri JV acquires Shell SG's energy and chemical assets

The companies expect to complete the transaction by year-end

A joint venture formed by Glencore and Chandra Asri Group will acquire Shell’s Energy and Chemicals Assets in Singapore (SECP).

The JV entered a sales and purchase agreement with Shell Singapore following a competitive auction process.

The company expects to complete the transaction, pending regulatory approval, by the end of 2024.

SECP comprises a refinery with a processing capacity of 237,000 barrels per day of crude oil, a 1.1 million metric ton per annum ethylene cracker on Bukom Island, and downstream chemical assets on Jurong Island.

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