Reported about 4 hours ago
Global commodities traders Vitol and Glencore are gearing up to make formal bids for Chevron's 50% stake in Singapore's second-largest refinery, valued at about $1 billion. Chevron is expected to receive final bids in October, with PetroChina holding the first right of refusal. Both Vitol and Glencore aim to expand their refining presence in the Asia-Pacific region amidst Chevron's ongoing cost-cutting measures.
Source: YAHOO