A group including commodity trader Glencore plc (LSE:GLEN) and Indonesian chemicals business PT Chandra Asri Pacific Tbk (IDX:TPIA) is in advanced talks to buy Shell plc (LSE:SHEL) assets in Singapore in a deal that could be worth about $1 billion, people with knowledge of the matter said. The parties are working on the details of a transaction that could be announced as soon as the coming weeks, according to the people, who asked not to be identified as the process is private. Shell?s Singapore assets include a refinery capable of processing 237,000 barrels of oil a day, a facility on Jurong Island that produces monoethylene glycol and an ethylene plant on Pulau Bukom.
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- Glencore Group Reportedly Nears Deal for Shell?s Singapore Oil Refinery