Shell sells Bukom refinery in Singapore to PT Chandra Asri-Glencore joint venture, aligning with CEO's plan to reduce carbon footprint.
Shell has agreed to sell its Bukom refinery in Singapore, one of the world's largest oil refining and trading centers, to a joint venture of Indonesian chemicals firm PT Chandra Asri and global trading house Glencore. The sale aligns with CEO Wael Sawan's plan to reduce Shell's carbon footprint and focus on its most profitable businesses. The transaction will transfer all of Shell's interest in Shell Energy and Chemicals Park Singapore to the joint venture company, CAPGC.
May 08, 2024
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