You are using an outdated browser For a better experience using this site, please upgrade to a modern web browser. Subscribe Get Daily Email Subscribe --> Contact Us Sign in Home News & Features Compliance Costs Bunker Prices Bunker Intelligence Asia/Pacific News Latest Features World Americas EMEA Asia/Pacific Home News & Features Asia / Pacific ENEOS to Acquire Chevron's 50% Stake in Singapore Refining Company ENEOS to Acquire Chevron's 50% Stake in Singapore Refining Company by Ship & Bunker News Team Thursday May 14, 2026 Tweet Follow @shipandbunker The refinery has a crude processing capacity of 290,000 bbls/day. Image Credit: SRC Japanese energy company ENEOS Holdings has agreed to acquire US oil major Chevron 's 50% non-operated stake in Singapore Refining Company . The acquisition forms part of a $2.17 billion deal covering downstream fuels and lubricants businesses across Southeast Asia and Australia , Eneos said in a press release on Thursday. Singapore Refining Company is located on Jurong Island and has a capacity of processing 290,000 bbls/day of crude oil. The refinery produces a wide range of products, including bunker fuels, according to its website. “ Chevron was among the list of Top 10 Bunker Suppliers in Singapore The wider acquisition includes Chevron’s downstream operations in Singapore , Malaysia , the Philippines , Australia , Vietnam and Indonesia . ENEOS said the transaction will be carried out through a special purpose vehicle established in Singapore. Under the agreement, the company will acquire full ownership of Chevron Singapore Pte. Ltd ., Chevron Malaysia Limited , Chevron Philippines Inc ., Chevron Australia Downstream Holdings Pty  and PT Chevron Oil Products Indonesia . Chevron Singapore was among the list of Top 10 Bunker Suppliers in Singapore . The deal is expected to close in 2027 , subject to regulatory approvals and customary closing conditions. Ship & Bunker News Team To contact the editor res