Chevron seeks billion dollar buyer for Singapore energy assets
Chevron is in final talks to sell its Singapore refining and distribution assets for over one billion dollars. The deal is expected to close in early 2026.
Insights:
Chevron Corporation , based in the US 
US, has entered final-stage negotiations to sell its oil refining and distribution assets in Singapore 
SGto either Eneos Holdings Inc. or Glencore PLC . This divestiture, valued at $1 billion or more, is part of a broader corporate restructuring to streamline operations and reduce costs across its international portfolio, which includes various holdings from Southeast Asia to South Africa 
ZA. The transaction is currently targeted for completion in the first quarter of 2026.
US, has entered final-stage negotiations to sell its oil refining and distribution assets in Singapore SGto either Eneos Holdings Inc. or Glencore PLC . This divestiture, valued at $1 billion or more, is part of a broader corporate restructuring to streamline operations and reduce costs across its international portfolio, which includes various holdings from Southeast Asia to South Africa ZA. The transaction is currently targeted for completion in the first quarter of 2026.The sale includes a 50% stake in the Singapore Refining Co (SRC), which operates a 290,000 barrel per day refinery in Singapore. The remaining 50% stake in the SRC is held by PetroChina Company Limited , representing China 
CN, through its subsidiary Singapore Petroleum Co Ltd. In addition to the refinery, the deal encompasses the Penjuru terminal, which has an oil storage capacity of over 400,000 cubic meters. The assets also include a retail network consisting of 420 Caltex outlets in Malaysia 
MY, 26 in Singapore, and 53 in Cambodia 
KH.
CN, through its subsidiary Singapore Petroleum Co Ltd. In addition to the refinery, the deal encompasses the Penjuru terminal, which has an oil storage capacity of over 400,000 cubic meters. The assets also include a retail network consisting of 420 Caltex outlets in Malaysia MY, 26 in Singapore, and 53 in Cambodia KH.
