SRC refinery upgrade awaits PetroChina nod

Partner Chevron seems to have okayed the project

[SINGAPORE] It's flashing a hopeful amber - though not green yet - for a planned US$500 million-plus upgrading of the Singapore Refining Company (SRC) refinery on Jurong Island. This is because while US oil giant Chevron has given its official nod, the project is still awaiting a final investment decision from SRC's other joint venture partner, PetroChina.

The Chevron decision apparently only came last month, BT understands, or some three quarters of a year later than the earlier anticipated Q1 greenlight...

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to