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According to Sinochem News, recently Astec Chemicals and Energy in Singapore announced that it plans to complete a series of key projects by the second half of 2026, with the aim of increasing its refining capacity, reducing the costs associated with crude oil imports, and generating new sources of revenue. The company was established as a joint venture between Indonesian Chandra Asri and Glencore. The core components of this project include the renovation of the distillation unit acquired from Singapore Petrochemicals, with a daily processing capacity of 70,000 barrels of condensate. After the modification, the facility can process 30% sulfur-containing condensate, raising Astor’s total crude oil processing capacity from 237,000 barrels per day to 307,000 barrels per day. The company also plans to repair its single-point mooring facility during the same period, in order to restore the ability to berth ultra-large oil tankers, thereby significantly reducing crude oil procurement costs through larger-scale transportation. In addition to its core refining business, Astor is exploring the option of leasing out the idle crude oil and refined product storage tanks at its facility, which have a total design capacity of 500,000 barrels per day, in order to monetize its assets and support Singapore’s oil storage ecosystem. At the same time, the company plans to increase low-carbon power generation through its power subsidiary and sell any excess power to Singapore’s power grid.