Vitol and Glencore (GLNCY) are expected to make bids for Chevron’s (CVX) 50% stake in Singapore’s second-largest refinery, with the value of the entire refinery estimated at about $1B, Trixie Yap, Yantoultra Ngui and Chen Aizhu of Reuters reports, citing people familiar with the matter. Vitol and Glencore were shortlisted this month and Chevron is looking to receive final bids in October, one source added.
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