Shell Sells Singapore Refining Complex

A joint venture led by Indonesian chemical company Chandra Asri has agreed to buy Shell’s fuels and petrochemical refining complex in Singapore – facilities that include an API Group I base oil plant.

The joint venture, CAPGC Pte., was formed with Swiss metals and energy giant Glencore. A news release by Chandra Asri said it holds a majority stake in the partnership – which apparently was created for this acquisition – but did not specify the exact size.

Shell refers to the complex that it is selling as its Energy and Chemicals Park. It spreads over two islands to the south of Singapore’s main island, Jurong Island and Pulau Bukom. The Pulao Bukom facilities include a refinery that can process 237,000 barrels per day of crude oil and which in turn includes a 386,000 metric ton per year base oil plant. On the same island is a 1.1 million t/y ethylene cracker.