Shell on selling its first-born in Singapore and its energy transition and growth plans
Its product range includes petroleum, lubricants and plastics, as well as cleaner fuels such as sustainable aviation fuel and LNG
WHEN news broke of Shell’s sale of its assets on Pulau Bukom including a refinery and ethylene cracker in May, some market watchers read the move as a retreat from Singapore.
But Shell Singapore chairperson Aw Kah Peng told The Business Times that it was just part of moving the group’s portfolio up to more lucrative businesses in the region. Globally, there is also a direction to reduce Shell’s carbon footprint.
“Bukom was the first refinery in Singapore, there were a lot of emotions (attached to it),” she said. Shell was the first oil major to set up a refinery in Singapore with Bukom opening in 1961. Over the years, Bukom became synonymous with Shell’s presence in the country. Shell Singapore currently employs 2,900 people, with the Bukom divestment not completed yet.
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