The assets sold by Shell include the 237,000 barrels-per-day refinery and a 1.1 million tonnes-a-year ethylene cracker on Pulau Bukom.
The sale of Shell’s refining facilities to CAPGC, including Singapore’s first oil refinery built in 1961, comes after the London-listed company placed the assets under a strategic review last year to boost its overall profitability and lower its carbon footprint worldwide. Mr Huibert Vigeveno, Shell’s director for its downstream, renewable and energy solutions business, said: “This agreement marks a significant step in Shell’s ongoing efforts to high-grade our chemicals and products business, and is a testament to our commitment to deliver more value with less emissions, as outlined at our capital markets day last year.
Mr Vigeveno said despite the sale of its refining assets, the company will remain committed to its regional hub for marketing and trading businesses in Singapore.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Explore nature’s beauty in Singapore’s offshore islands: Pulau Ubin, Lazarus, and KiasAs one explorer said, “Don’t get me wrong. I’ll always love every inch of Singapore, but for a walk on the wild side, you can’t beat its islands.”
Source: IndependentSG - 🏆 9. / 63 Read more »
‘Make merry while we still can’: Ex-crew members of SIA and its predecessor get togetherSINGAPORE - Some 130 former crew members who used to work for Singapore Airlines (SIA) or its predecessor, Malaysia-Singapore Airlines (MSA), attended a soiree at the Singapore Cricket Club on April 28.
Source: STForeignDesk - 🏆 4. / 71 Read more »
Longer SIA flights to Europe as airline avoids Iranian airspaceAll Scoot flights between Singapore and Athens will also take longer, says a Singapore Airlines spokesperson.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Top 42 free things to do in Singapore (May 2024): i Light Singapore, vOilah! France Singapore Festival, Pets' Day Out, and moreBored as well as broke? We've got good news for you. This May, there's no way you'll miss out on the festivities with the slew of markets, events, and activities to keep you entertained at zero cost.
Source: asiaonecom - 🏆 10. / 59 Read more »
Part of Denmark's historic stock exchange reduced to empty shell after blazeCOPENHAGEN: Half of Denmark's Old Stock Exchange was completely burnt out with only outer walls remaining after flames had engulfed the building and caused the roof to collapse in Tuesday'
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Seatrium, Shell partner on Floating Production SystemspstrongThe parties are pushing for standardisation and replication of FPS./strong/p pSeatrium Limited has inked a memorandum of understanding (MoU) with Shell GlobalSolutions International B.V. to collaborate on designing and constructing floating production systems.
Source: SBRMagazine - 🏆 13. / 51 Read more »