Shell Agrees to Sell Singapore Assets to Glencore-Indonesian JV

Shell Plc has agreed to sell its Singapore refining and chemicals assets to a joint venture between commodity trader Glencore Plc and Indonesian company PT Chandra Asri Pacific.

As part of the transaction, Shell will transfer all of its interest in Shell Energy and Chemicals Park Singapore, which comprises refining and chemicals assets on Bukom and Jurong islands, to the JV, it said in a statement on Wednesday, which confirmed a Bloomberg News report from last week. Financial details of the deal were not disclosed.

Shell said it remains committed to Singapore as a regional hub for its marketing ...