Chevron's $1.362 Billion Trading Day Sees 42nd Ranking Amid Singapore Refining Stake Sale

On June 20, 2025, Chevron (CVX) saw a trading volume of $1.362 billion, ranking 42nd in the day's stock market activity. The company's stock price increased by 0.89%.

Chevron is actively seeking buyers for its 50% stake in the Singapore Refining Company (SRC), a move that could be valued between $300 million and $500 million. This initiative is part of Chevron's global restructuring efforts aimed at streamlining operations and reducing costs. The company has appointed Morgan Stanley to evaluate the sale of its stake in SRC and other Asian assets, including terminal and fuel storage facilities in Australia and the Philippines.

PetroChina, which owns the remaining 50% of SRC, has the first right of refusal to purchase Chevron’s share. Other potential buyers include global trading house Glencore. The SRC refinery has a crude processing capacity of around 290,000 barrels per day and includes seven shipping berths capable of handling very-large crude carriers (VLCCs).

This potential sale comes as Chevron continues to restructure its global operations, which could result in the layoff of up to 20% of its workforce by the end of next year. The company has also recently sold its stake in Chevron Phillips Singapore Chemicals to Aster Chemicals and Energy, a joint venture between Chandra Asri and Glencore. This deal marks Chevron's second recent exit from the Singapore refining sector, which faces increased operating costs due to a carbon tax.