Glencore-backed group close to $1b deal for Shell's Singapore assets

Glencore-backed group close to $1b deal for Shell's Singapore assets

Shell branding is seen at a petrol station in west London, January 29, 2015. REUTERS/Toby Melville

A consortium that includes Swiss miner and commodities trader Glencore and Indonesia’s PT Chandra Asri Pacific is in advanced talks to buy Shell’s oil refinery and petrochemical units in Singapore, in a deal that could be worth about $1 billion, Bloomberg News reported on Friday.