Explainer: Shell's Singapore refinery sale and its market significance [Reuters]
Exxon Mobil Corporation (XOM)
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Source: Reuters
refining and trading centres - to a joint venture of Indonesian chemicals firm PT Chandra Asri and global trading house Glencore, culminating a process that began last year. Here are the key details and what's next: WHY IS SHELL SELLING ITS SINGAPORE "CROWN JEWEL" REFINERY? The sale of the complex, which opened in 1961, is part of CEO Wael Sawan's plan to reduce the company's carbon footprint and to focus on its most profitable businesses. Last year, Shell said it was of its Singapore assets. WHO ARE THE BUYERS? Chandra Asri is majority owner of the joint venture with Glencore, called CAPGC Pte. Ltd. (CAPGC). Chandra Asri operates Indonesia's sole naphtha cracker which can annually produce 900,000 tons of ethylene and 490,000 tons of propylene, which are basic raw materials that are processed into other petrochemicals. It is a joint venture between several Thai and Indonesian firms including Siam Cement Group, Thai Oil and PT Barito Pacific. Glencore is a Swiss-based p
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Sec Filings
- 5/17/24 - Form DEFA14A
- 5/15/24 - Form DEFA14A
- 5/15/24 - Form SD
- XOM's page on the SEC website