Japan’s Eneos Buys Chevron Asia Oil Assets for $2.2 Billion

Japanese refiner Eneos Holdings Inc. agreed to purchase some of Chevron Corp.’s refining and retail assets across the Asia-Pacific for $2.17 billion in cash, significantly expanding its footprint across the region.

The deal includes Chevron’s 50% stake in an oil refinery in Singapore, along with other retail fuel and lubricant marketing businesses in the city-state, Malaysia, Indonesia, the Philippines, Australia and Vietnam, according to a statement from Eneos. The transaction is expected to close in 2027.