The Business Times
business-time-50
SUBSCRIBERS

Buyer of Shell’s refinery has set aside US$2 billion for Singapore investments; more deals on the way

Aster is betting on ‘strategic resilience’ as it invests through the oil and gas down cycle

Summarise
google-preferred-sourceAdd BT as a preferred source
Sharanya Pillai

Sharanya Pillai

Published Tue, Nov 11, 2025 · 07:52 PM
阅读简体中文版 (beta)
    • Aster's group CFO Andre Khor believes that the industry is going through "recalibration", not "destruction".
    • At the signing ceremony of a sustainable aviation fuel deal are Khor (seated, left) and Aether Fuels' CEO Conor Madigan (seated, right).
    • Aster's group CFO Andre Khor believes that the industry is going through "recalibration", not "destruction". PHOTO: ASTER
    • At the signing ceremony of a sustainable aviation fuel deal are Khor (seated, left) and Aether Fuels' CEO Conor Madigan (seated, right). PHOTO: ASTER

    [SINGAPORE] Energy and chemicals player Aster has set aside US$2 billion in investments for the Singapore market, and is still looking at more deals, said its group chief financial officer Andre Khor.

    “There are a few other deals in the pipeline,” he told The Business Times in an exclusive interview after the company signed a sustainable aviation fuel deal with Aether Fuels on Tuesday (Nov 11).

    “I cannot disclose (the deals due to) confidentiality but, fundamentally, we’ll pull it all together. It’s about unlocking synergies; it’s about integrating Indonesia (and) Singapore,” said Khor.

    AsterOil and gasShellSingaporeJurong IslandESG

    TRENDING NOW

    Longest-serving chief minister Taib Mahmud’s legacy looms large over Sarawak as a family feud over his estate threatens to expose skeleton’s in the eastern state’s political closet.

    On the board but frozen out: The Taib family feud tearing Sarawak construction giant apart

    Shoppers in Myeong-dong in Seoul. Tourists in the Asean+3 bloc (comprising Asean's 11 member states and China, Japan and South Korea) increasingly do not carry cash, nor do they need to change currency for their trips.

    Asean+3 has made strong progress on cross-border payment connectivity, but more work lies ahead

    A wind farm in South Sulawesi. Indonesia could deliver around 3 gigawatts of renewable energy capacity to Singapore.

    Indonesia targets year-end start for US$30 billion clean power exports to Singapore

    The benchmark Straits Times Index is up 3.23 points at finish at 4,946.

    Seatrium surge leads Singapore stocks slightly higher on Tuesday; STI up 0.1%

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More