Singapore's Astor Chemical and Energy plans to complete key projects in the second half of 2026 to increase refining capacity and expand revenue streams

Recently, Singapore's Aster Chemical and Energy Company (Aster)-a joint venture between Indonesia's Chandra Asili (Chandra Asri) and global commodity giant Glencore (Glencore)-announced that it expects to complete a series of key projects in the second half of 2026. These measures are aimed at increasing its refining capacity, reducing the cost of crude oil imports, and expanding new revenue sources to further strengthen its position in Singapore's energy and petrochemical sectors.

The core of these projects is the transformation of a condensate fractionation unit acquired from Singapore Petrochemical Company (PCS Pte. Ltd.), the leading enterprise in Singapore's core chemical park on Jurong Island. The unit had a daily processing capacity of 70000 barrels before upgrading, and will be able to process 30% of sulfur-containing condensate after upgrading. This upgrade will increase Astor's total crude oil processing capacity from the current 237000 barrels per day to 307000 barrels per day, realizing deep integration with the existing refining and petrochemical assets of Wuji Zhima Island and Jurong Island.

At the same time, the company plans to rehabilitate its Single Point Mooring Facility (SBM), which can accommodate the world's largest oil tankers. The restoration will restore the berthing capacity of very large crude oil carriers (VLCCs), enabling Astor to take advantage of larger crude oil shipments, significantly reducing procurement costs through economies of scale.

In addition to its core refining business, Astor is exploring monetization of assets through external leasing of its idle crude oil and refined products storage tanks with a total design capacity of 500000 barrels per day. The move is not only aimed at tapping into asset value, but will also support Singapore's position as the world's leading oil trading and bunkering hub by complementing its oil storage ecosystem.

In addition, Astor plans to expand the scale of low-carbon power generation through its power subsidiaries, which is in line with Singapore's goal to export about 6 million kilowatts of low-carbon power by 2035. The excess electricity generated will be sold to Singapore's National Grid, accessing the country's regulated electricity market and contributing to its low-carbon energy transition efforts.

As a key player in the energy and chemical sectors in Southeast Asia, Astor's upcoming projects are expected to improve supply chain efficiency, optimize raw material utilization, and provide more competitive solutions for customers in Singapore and the wider Southeast Asia region.

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