Chevron likely to close deal for Singapore refinery stake sale to Eneos in May, sources say

ENEOS Holdings

28/04/2026 09:26

SINGAPORE, April 28 (Reuters) - Chevron CVX.N is likely to close a deal for the sale of its 50% stake in Singapore Refining and other regional assets to Japan's top refiner Eneos 5020.T in May, two sources familiar with the matter said.

The U.S. major had been expected to complete the deal, valued at $1 billion or more, in the first quarter, Reuters reported earlier, but the timeline has since been pushed back slightly following a major energy supply disruption caused by the U.S.-Iran war.

Chevron and Eneos declined to comment. Morgan Stanley, which has been appointed by Chevron to handle the sale also declined to comment.

 (Reporting by Trixie Yap and Yantoultra Ngui, additional reporting by Chen Aizhu, Yuka Obayashi, Kane Wu and Shariq Khan; Editing by Florence Tan and Louise Heavens)

 ((Florence.Tan@thomsonreuters.com;))