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Indonesian firm Chandra Asri and Swiss Glencore buy Shell's Singapore refinery for $1 billion.
A joint venture between Indonesian company Chandra Asri and Swiss firm Glencore has completed the acquisition of Shell's refinery and petrochemical assets in Singapore.
The deal, estimated to be worth around $1 billion, includes a refinery capable of processing 237,000 barrels of oil daily.
Shell will maintain its presence in Singapore through its marketing and trading operations.
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