• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 40 mins GREEN NEW DEAL = BLIZZARD OF LIES
  • 4 hours How Far Have We Really Gotten With Alternative Energy
  • 2 days Bad news for e-cars keeps coming
  • 4 hours EV future has been postponed
Argentina Prepares for Oil IPO As Milei Reform Gets Underway

Argentina Prepares for Oil IPO As Milei Reform Gets Underway

Argentine oil driller Petrolera Aconcagua…

4 Questions About the Future of Electricity

4 Questions About the Future of Electricity

Despite skepticism about climate change,…

Tsvetana Paraskova

Tsvetana Paraskova

Tsvetana is a writer for Oilprice.com with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews. 

More Info

Premium Content

Shell’s Largest Refinery Reduces Crude Processing Capacity By 50%

Shell cracker

Shell will halve the crude oil processing capacity of its largest wholly owned refinery in the world, Pulau Bukom in Singapore, as part of its ambition to be a net-zero emissions business by 2050 or sooner, the supermajor said on Tuesday.    

Pulau Bukom hosts the largest wholly-owned Shell refinery globally in terms of crude distillation capacity, 500,000 barrels per day (bpd), and it also has an ethylene cracker complex with a capacity of up to a million tons per year and a butadiene extraction unit of 155,000 tons annually.

As Shell is looking to cut carbon dioxide (CO2) emissions and is transforming its refining business for the new future, it will cut the crude processing capacity at Pulau Bukom by about half, the company said. In that new future, the Pulau Bukom Manufacturing Site will be one of Shell’s six energy and chemicals parks, and will pivot from a crude-oil, fuels-based product slate towards new, low-carbon value chains.

“Our businesses in Singapore must evolve and transform, and we must act now if we are to achieve our ambition to thrive through the energy transition. Our decisive action today will help Shell in Singapore stay resilient and build a cleaner, more sustainable future for all of us,” said Aw Kah Peng, Chairman of Shell Companies in Singapore.

The reduced refinery capacity in Singapore will result in fewer jobs at the site, Shell said, while a Shell spokeswoman told Reuters that the supermajor would cut around 500 jobs by the end of 2023. Currently, Pulau Bukom employs around 1,300 people. 

Shell is implementing a new downstream strategy to reshape its refining business towards a smaller, smarter refining portfolio focused on further integration with Shell Trading hubs, Chemicals, and Marketing.

As part of this strategy, Shell has sold the Martinez Refinery in California to PBF Holding Company for US$1.2 billion.

Shell is also set to shut down its 211,000-bpd refinery in Convent, Louisiana, after failing to find a buyer for the site.

By Tsvetana Paraskova for Oilprice.com

ADVERTISEMENT

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News