REUTERS/Chris Helgren/File Photo Acquire Licensing RightsSINGAPORE, Aug 23 (Reuters) - Shell is considering a sale of its Singapore refining and petrochemical plants as part of a broader strategic review and has hired investment bank Goldman Sachs to explore a potential deal, said several sources close to the matter.
"Our strategic review is ongoing and we are exploring several options including divestment," a Shell spokesperson told Reuters on Wednesday.
Companies that are reviewing Shell's Singapore assets include Asia's largest refiner, China's Sinopec (600028.SS), as well as global trading companies Vitol and Trafigura, the sources said.
For trading companies, the site is seen as a potential oil storage and distribution hub, some of the sources said.
In March, Shell decided not to proceed with two projects it was studying to produce biofuels and base oils in Singapore.
Persons:
Chris Helgren, Goldman Sachs, Wael Sawan, China's Sinopec, Shell, Trixie Yap, Chen Aizhu, Florence Tan, Tony Munroe, David Goodman
Organizations:
Shell, REUTERS, Rights, Reuters, Thomson
Locations:
Vancouver , British Columbia, Canada, Singapore, Jurong, Asia