On April 1, Shell announced that it had completed the sale of its Singapore energy and chemicals park to a joint venture formed by Glencore and Indonesian chemical manufacturer PT Chandra Asri Pacific. The specific financial details were not disclosed.

Shell announced the above transaction on May 8, 2024. The Singapore Energy and Chemicals Park includes refining and chemical assets located on Pulau Bukom and Jurong Island.

Mao Guang Island's assets include a refinery built in 1961 with a capacity of 237,000 barrels per day, and an ethylene cracker with a capacity of 1.1 million tons per year.

The Shell Jurong Island plant produces petrochemical products including ethylene oxide, ethoxylates, styrene monomer, and propylene oxide, and is Shell's largest petrochemical production and export center in the Asia-Pacific region.

Shell stated that this divestment is a significant step in its continuous efforts to enhance its chemicals business. In the future, it will continue to support Singapore's energy needs through a range of energy product operations, including the supply and trading of liquefied natural gas.