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SINGAPORE - Swiss miner and commodities trader Glencore is looking at buying Shell's oil refinery and petrochemical units in Singapore as the oil major seeks a buyer for the sites after earlier...
Glencore stands to gain a physical foothold for its trading in Asia’s main oil hub
High operating costs and spectre of a carbon tax are deterrents to would-be buyers. Read more at straitstimes.com.
Glencore is considering acquiring Shell’s oil operations in Singapore after several previous candidates for the assets changed their minds.
Shell has decided to withdraw from negotiations on the development of a petrochemicals plant in Basra, Iraq, reported Reuters.