Tie-ups: Aster/Lubrizol partner for expansion of lubricants, chemicals in Singapore; BPCL/Oil India tie-up for refinery/petchem complex in Andhra Pradesh

Singapore-based chemical and energy solutions provider Aster Chemicals and US chemical firm Lubrizol have signed a Memorandum of Understanding (MoU) to explore strategic collaboration opportunities in Singapore and the wider region. This partnership combines Aster’s integrated refinery and petrochemical operations with Lubrizol’s innovation-driven capabilities to advance diversified energy pathways, develop high-performance lubricants and speciality chemical solutions, and support Singapore’s low-carbon transition.

This partnership combines Aster’s fully integrated refinery and petrochemical operations with Lubrizol’s capabilities. Together, both companies are committed to advancing diversified energy pathways, developing high-performance lubricants and specialty chemical solutions, and fostering supply resilience that supports Singapore’s continued low-carbon transition, they add.

The MoU sets a framework for joint studies and initiatives aimed at driving product innovation and strengthening value chains. By leveraging Aster’s operational experience and Jurong Island’s strategic position, the collaboration seeks to create new growth opportunities for sustainable chemical development in Asia.

Chan Win Sim, Aster’s Commercial Director, expressed optimism about the partnership, stating, “We continue to invest in growth and innovation, strengthening strategic resilience across our portfolio to power growth, connect industries and uplift communities.” Henry Liu, Lubrizol’s Asia Pacific Vice President, added, “This MoU represents a strategic move to strengthen supply chain resilience to deliver high-performance, next-generation products.”

The collaboration is expected to address the evolving lubricant landscape, shaped by technological advancements, tightening environmental regulations, and increased digitalisation. Both companies aim to support the region’s transition towards a sustainable future, enhancing Singapore’s role as a hub for advanced chemical technologies.

In other news, India’s state-run firm Bharat Petroleum Corp. and explorer Oil India will jointly build a US$11.38 billion refinery and petrochemical complex in southern India, marking a strategic shift for the driller as it expands beyond upstream operations.

Oil India is considering taking a 10%-20% stake in the planned refinery in Andhra Pradesh state, while BPCL is seeking additional partners for the project, BPCL Chairman Sanjay Khanna said recently.

The refinery announcement comes as India, the world's third-largest oil importer and consumer, continues to rely on fossil fuels and is trying to position itself as a refining and petrochemical hub.

Oil India is also ramping up its downstream presence through its unit Numaligarh Refinery Ltd. (NRL), which is expanding its refinery in the state of Assam to 180,000 bpd by March 2027.

The proposed Andhra Pradesh refinery, with a capacity of 180,000 bpd–240,000 bpd, has received key statutory approvals and 6,000 acres of land from the state government, with pre-project work underway, BPCL said in a statement.

The petrochemical complex will feature a 1.5-million-tonne ethylene cracker and is expected to start commercial operations by fiscal year 2030.

Oil India is also partnering with BPCL and NRL on a 700-km fuel pipeline from Siliguri to Mughalsarai that will carry petrol, diesel and jet fuel. BPCL will hold a 50% stake in the project, while Oil India and NRL will share the remainder.

BPCL is India's second-biggest state-run refiner, with 706,000 bpd of crude capacity across three refineries.

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