Exclusive: Glencore-Chandra Singapore refinery to earmark 20% of output for Shell, sources say
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Glencore and Chandra Asri are finalizing their acquisition of Shell's Singapore refinery. They have established a new operating company and plan to allocate 20% of the refinery's output to Shell.
November 13, 2024 | 9:45 am
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NEUTRAL IMPACT
Shell will receive 20% of the output from its former Singapore refinery post-acquisition by Glencore and Chandra Asri.
Shell's agreement to receive 20% of the output from its former Singapore refinery indicates a continued supply chain benefit. However, the impact on Shell's stock is likely neutral in the short term as it maintains a steady supply without direct operational control.
CONFIDENCE 85
IMPORTANCE 50
RELEVANCE 60
POSITIVE IMPACT
Glencore, in partnership with Chandra Asri, is acquiring Shell's Singapore refinery and will allocate 20% of its output to Shell.
The acquisition of Shell's Singapore refinery by Glencore and Chandra Asri, with a commitment to allocate 20% of output to Shell, suggests a strategic partnership and potential for increased revenue streams. This move is likely to positively impact Glencore's stock in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80