Eneos Poised to Acquire Chevron's Singapore Refinery Stake

Japan's leading oil refiner, Eneos, is reportedly set to outbid competitors for Chevron's share in a Singapore refinery valued at $1 billion. Despite nearing completion, the deal may face delays. Rival international bidders include Vitol and Glencore, but neither Chevron nor Eneos have confirmed the reports.

In a competitive race for regional dominance, Japan's top oil refiner, Eneos, edges closer to acquiring Chevron's stake in a major Singapore refinery. The transaction, said to be in its final stages, could face potential delays, insiders revealed to Bloomberg News.

With analysts pegging the refinery's worth at approximately $1 billion, interest from global powerhouses like Vitol and Glencore underscores its strategic significance in the region. The 50% stake up for grabs marks a significant player shift in the refining landscape.

As anticipation mounts, both Chevron and Eneos have remained tight-lipped, refraining from commenting on the report. Verification from Reuters also remains pending, adding an air of intrigue to an already high-stakes deal.

(With inputs from agencies.)