Chevron(US:CVX) Zhong Guo Hua Gong Bao·2026-01-04 02:51Core Viewpoint - Japan's Inpex Corporation is reportedly in a leading position in the bidding for Chevron's Singapore refinery assets, with the transaction nearing completion [1] Group 1: Chevron's Strategic Moves - The sale is part of Chevron's ongoing efforts to optimize its asset portfolio in Singapore [1] - In 2024, Shell sold its Bukom refinery to a joint venture between Glencore and Indonesia's Chandra Asri Pacific [1] Group 2: Market Dynamics - Singapore remains an attractive hub for oil trading and shipping in the Asia-Pacific region, making refinery assets appealing for companies looking to establish a strategic presence [1] - Acquiring downstream assets like refineries helps traders such as Glencore secure stable refining profits [1] Group 3: Refinery Operations - The Singapore refinery is a joint venture, owned by a subsidiary of PetroChina International (Singapore) and Chevron Singapore [1] - The refinery operates with a processing capacity of 290,000 barrels per day, producing fuels and chemical feedstocks for local and export markets [1] - Chevron initiated the sale process for this stake in early 2025, but no public comments have been made by the involved companies regarding the transaction's progress [1]