A Sinopec spokesperson declined to comment. A Shell spokesperson said the company has initiated a strategic review of its energy and chemicals assets on Bukom and Jurong Island in Singapore.
China’s state-owned Sinopec is among several parties circling Shell Plc’s storied Bukom oil refinery in Singapore, an asset the company has placed under review as part of a revamp of its refining and chemicals business.
People with knowledge of Sinopec’s internal affairs said the Chinese refining giant was interested in Bukom for the exposure it can provide in the Singapore market, Asia’s no. 1 pricing, trading and distribution hub for oil products such as gasoline and diesel. They could not be identified due to company policy.
