June 17, 2025 [Yahoo Finance]- Aster Chemicals and Energy intends to increase its crude processing capacity at its refining site in Singapore to more than 300,000 barrels per day (bpd), after buying a stake of more than 50% in a condensate splitter unit, the company said on Monday.

After taking over the stake from PCS Pte Ltd, one of Singapore’s major petrochemical producers, the Chandra Asri-led joint venture with Glencore will have full ownership of the facility which includes a floating roof crude tank and two fixed roof crude recirculation tanks.

“Post-acquisition, Aster will seek to invest to rejuvenate the CSU. Post-revitalization, Aster’s total capacity will increase from 237,000 barrels per day currently, to more than 300,000 barrels per day,” the company said in a press release.

The company did not provide the deal value.

The 70,000-bpd splitter at the Bukom Island refining site has not been running in the past few years, two sources with direct knowledge of the matter said.

The unit typically processes light oil into fuel products such as naphtha, kerosene and liquefied petroleum gas.

Aster Chemicals and Energy acquired Chevron Phillips Singapore Chemicals early last month.