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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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
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