Bloomberg News reports that Eneos, a Japanese company, is the leading bidder for Chevron Singapore's oil refinery stake.

Bloomberg News reported that Eneos, Japan's largest oil refiner, is leading rival bidders to acquire Chevron's stake in a Singapore refinery. The deal, however, could still be delayed, according to people familiar with the matter.

Eneos, in a statement emailed to, says "there are no decisions we have made on this issue."

Reporting in September

The value of the refinery as a whole is estimated at $1 billion. Global commodities traders Vitol & Glencore will be making formal bids to buy Chevron's half stake.

PetroChina, the state-owned oil giant in China, owns the remaining 50% through its Singapore Petroleum subsidiary.

The refinery in Jurong Island is one of the three major refineries of the city-state. It has a crude oil processing capacity of 290,000 barrels per day.

Singapore is Asia's biggest oil trading hub, and the largest bunkering facility in the world. Refined products are blended there before being sold or exported. Reporting by Mihika sharma in Bengaluru, and Katya golubkova in Tokyo. Editing by Sonia Cheema & Ronojoy mazumdar.

(source: Reuters)