Sinopec May Make Move for Shell Singapore Oil Refinery, Bloomberg Reports
August 24 2023 - 3:30AM
Dow Jones News
--China oil major Sinopec has emerged as a potential suitor of
Shell's Bukom oil refinery in Singapore as it seeks to gain
exposure to the city-state's market, Bloomberg reports, citing
unnamed sources.
--According to Bloomberg, discussions with the interested
parties are in the early stages, and the refinery could be sold for
a nominal fee but involve the buyer taking on liabilities that may
exceed $1 billion.
--A spokesperson for Shell said it has started a strategic
review of its energy and chemicals assets on Singapore's Bukom and
Jurong islands, Bloomberg says.
Full story: bit.ly/3sqFr6T
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(END) Dow Jones Newswires
August 24, 2023 03:15 ET (07:15 GMT)
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