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Japan's ENEOS to Acquire Stake in Singapore Refinery and Other Regional Assets from Chevron for USD2.2B
2026-05-14 17:40:32 Japan's ENEOS Holdings (5020.JP) said on Thursday (14th) it will acquire a 50% stake held by US energy major Chevron Corporation (CVX.US) in a Singapore refining company, along with its other assets in Southeast Asia and Australia, for nearly USD2.2 billion. This marks ENEOS' first expansion into the refining sector outside Japan. ENEOS said the transaction includes Chevron's assets in Vietnam, Australia, the Philippines and Malaysia, and is expected to be completed in 2027. Chevron has been seeking to divest its refining and storage assets in Asia to streamline operations and reduce costs. ~ AASTOCKS Financial News Website: www.aastocks.com | |