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PT Chandra Asri Pacific Tbk (TPIA.JK)
- Reuters
Glencore-backed group nears deal for Shell's Singapore assets, Bloomberg reports
The parties are working on the details of a transaction that could be announced as soon as the coming weeks, Bloomberg reported, citing people with knowledge of the matter. The assets include a refinery capable of processing 237,000 barrels per day (bpd) of oil and a 1-million-metric-ton-per-year ethylene plant located on Bukom island, just south of Singapore, as well as a plant that produces mono-ethylene glycol on Jurong island in the Southeast Asian city-state's west. Under the terms of the potential deal, PT Chanda Asri would become the operator and majority owner of the assets, while Glencore would hold a non-operating minority stake, the report said.
- Reuters
Exclusive-Glencore eyes Shell Singapore assets as CNOOC pulls out, sources say
Swiss miner and commodities trader Glencore is looking at buying Shell's oil refinery and petrochemical units in Singapore as the oil major seeks a buyer for the sites after earlier suitors dropped out, several industry and trading sources said. Glencore is working jointly with Indonesia's PT Chandra Asri Petrochemical to evaluate the assets, two of the sources said.
