Aster Chemicals & Energy

What Aster Chemicals & Energy does

Aster Chemicals & Energy is a Singapore-headquartered integrated energy and petrochemicals operator formed in April-May 2025 as an 80:20 joint venture between Indonesia's Chandra Asri Group and Glencore. The company consolidated Shell's Singapore Energy and Chemicals Park — including the Pulau Bukom refinery (300,000+ barrels per day capacity, 1.1 million tonnes/year ethylene cracker) and Jurong Island downstream chemical assets (2.5 million metric tonnes capacity) — and has since acquired Chevron Phillips Singapore Chemicals' polyethylene operations, a condensate splitter from PCS, and ExxonMobil's Esso retail fuel station network. Aster produces transportation fuels (gasoline, EURO5 diesel, Jet-A1, fuel oil), petrochemical building blocks (ethylene, propylene, butadiene, styrene, MEG, DEG, propylene oxide, high-purity EO), polyethylene resins (Asterene brand), polyols (Seradol, Acedol brands), and specialty chemicals (Group 1 base oils, slack wax, bitumen, sulphur), supported by a Marine Terminal with 13 jetties plus a Single Buoy Mooring.

The business model is B2B transaction-fee based: products are sold through direct commercial engagement with industrial customers across Asia Pacific and Australia/New Zealand using quote-based pricing, complemented by retail fuel distribution through the Esso station network. The company serves petrochemical converters, packaging manufacturers, lubricant formulators, road construction, shipping, and aviation customers, with emerging positions in sustainable aviation fuel (Aether Fuels, Keppel partnerships), re-refined base oils (Puraglobe), low-carbon hydrogen (Air Liquide), and circular plastics pyrolysis (APR Plastics, Taghleef, Pro-Pac). Forward integration is supported by Aster Engineering (EPC services) and Aster Power (renewable energy). Aster holds ISO 9001, ISO 17025, and ISCC PLUS certifications and is a Responsible Care charter signatory.

Aster is led by Group CEO Erwin Ciputra and Deputy CEO/CFO Andre Khor, who steered the company through a global energy crisis within its first year by securing alternative crude supply from West Africa, South America, and Canada within 48 hours while maintaining 70-80% refinery run rates. The company has committed US$2 billion to Singapore investments and secured a US$1 billion sustainability-linked syndicated loan facility, with management openly indicating interest in future IPO as assets mature. The company employs 1,600+ staff and operates from a 460 Alexandra Road headquarters (mTower) with manufacturing sites on Pulau Bukom, Jurong Island, Ayer Merbau, and a regional subsidiary in Melbourne (Aster ANZ Pty Ltd).

Name

Aster Chemicals & Energy

Legal name

Aster Chemicals and Energy Pte. Ltd.

Website

https://aster.com.sg

Company type

Private

Founded year

1961

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Aster Chemicals & Energy is a Singapore-based integrated refinery and petrochemicals operator formed in 2025 as an 80:20 JV between Chandra Asri and Glencore, producing fuels, olefins, polyethylene, polyols, and specialty chemicals from its Pulau Bukom and Jurong Island facilities for industrial customers across Asia Pacific and Australia/New Zealand.

Ownership category

akta.pro rank

Product category

Integrated Petroleum Refining and Petrochemicals

NAICS

Petrochemical Manufacturing (32511), Petroleum Refineries (32411), Petroleum Lubricating Oil and Grease Manufacturing (324191), Basic Chemical Manufacturing (3251)

SIC

Petroleum Refining (2911), Industrial Organic Chemicals (2860), Chemicals & Allied Products (2800), Miscellaneous Products Of Petroleum & Coal (2990)

akta.pro primary industry

Base Olefins (Ethylene, Propylene, Butadiene) (IMAEADAA)

akta.pro secondary industries

Steam Cracking & Feedstock Flexibility Services (Cracker optimization, feed switching, co-product recovery) (EUALAHAJ), Styrenics (Styrene Monomer, PS, EPS, ABS) (IMAEADAE), Base Aromatics (BTX: Benzene, Toluene, Xylenes) (IMAEADAB), Aromatics (BTX: Benzene, Toluene, Xylenes) (EUALAHAC)

Keywords

• Petroleum refining
• Petrochemical manufacturing
• Specialty chemicals
• Sustainable aviation fuel
• Polyethylene production

Headquarters

HQ city

Singapore

HQ country

Singapore

HQ region

Asia

Offices5 records

Markets served

GTM type

B2B and B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Petroleum Products: Refining crude oil into transport fuels including gasoline, diesel (ultra-low sulphur 10ppm EURO5), Jet-A1, and fuel oil (high sulphur and very low sulphur). Revenue from selling refined petroleum products to industrial customers and through retail network.
2. Petrochemical Building Blocks: Production and sale of essential petrochemical compounds including ethylene, propylene, butadiene, styrene, mono-ethylene glycol, di-ethylene glycol, propylene oxide, and high-purity ethylene oxide
3. Polyethylene and Polyols: HDPE resins (Asterene brand) optimized for blow molding, injection molding, and extrusion applications. Polyether polyols for flexible foams and CASE applications
4. Specialty Chemicals and Lubricants: Group 1 base oils, slack wax, deasphalted cylinder oil, sulphur, and bitumen for various industrial applications
5. Sustainable Aviation Fuel: Production of SAF through partnerships with Keppel and Aether Fuels using advanced conversion technologies

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels4 records

Core offering

Aster Chemicals & Energy operates an integrated refinery and petrochemical complex on Pulau Bukom and Jurong Island in Singapore. The company refines crude oil into transport fuels (gasoline, ultra-low sulphur diesel EURO5, Jet-A1, fuel oil), produces petrochemical building blocks (ethylene, propylene, butadiene, styrene, MEG, DEG, propylene oxide, ethylene oxide), manufactures HDPE resins (Asterene brand) and polyether polyols (SERADOL and ACEDOL), and supplies specialty chemicals (Group 1 base oils, slack wax, bitumen, sulphur, DACO). It also sells fuels through the Esso retail network in Singapore and offers EPC services through Aster Engineering.

Product overview

Aster Chemicals and Energy is a leading Singapore-based energy and chemicals company operating an integrated refinery and petrochemical hub, structured as a joint venture between Chandra Asri (80%) and Glencore (20%). The company operates a multi-platform portfolio comprising: (1) Energy solutions including solar and sustainable energy through Aster Energy; (2) Fuels including gasoline, diesel (10ppm ultra-low sulphur EURO5), Jet-A1 aviation fuel, and fuel oil for the global shipping industry; (3) Petrochemicals including butadiene, ethylene, propylene, styrene, MEG, DEG, propylene oxide, and high-purity ethylene oxide through the Ethylene Cracker Complex; (4) Asterene™ HDPE polymer products for packaging, containers, and industrial applications; (5) SERADOL polyols for flexible foams and CASE applications; (6) Speciality chemicals including Group 1 base oils, slack wax, bitumen, sulphur, and DACO; (7) Sustainable products with ISCC PLUS certification covering circular, bio-based, and low-carbon offerings including SAF partnerships with Aether Fuels and Keppel; (8) Aster Engineering providing EPC and construction management services; and (9) Critical infrastructure including the Marine Terminal (13 jetties, SBM), Aster Polymer Solutions, and ports/terminals operations. The facilities span Pulau Bukom (237,000+ bpd refinery, 1.1 million tonne/year ethylene cracker) and Jurong Island (downstream chemicals), connected by a 5KM subsea pipeline.

Differentiator

Problem solved

Functional benefit

Brands

• Aster ANZ: Australia and New Zealand operations subsidiary handling sales and distribution of chemical products
• Aster Polymer Solutions
• Aster Energy
• Asterene
• Acedol
• Seradol

Products and services

• Gasoline High-quality gasoline formulations designed for efficient transportation, offering smooth performance, reduced engine knock, and enhanced fuel efficiency for industrial and retail fuel customers.
• Diesel Ultra-low sulphur diesel (10ppm) compliant with EURO5 specifications for industrial and transportation applications requiring high torque and long operational hours.
• Jet-A1 Aviation Fuel Aviation fuel meeting UK DEF STAN 91-91 and JIG AFQRJOS standards, offering combustion stability and low-temperature performance for aircraft operators.
• Fuel Oil Both high sulphur and very low sulphur fuel oil designed to meet the diverse needs of the global shipping industry.
• Ethylene and Petrochemical Building Blocks Core petrochemical building blocks including ethylene, propylene, butadiene, styrene, mono-ethylene glycol (MEG), di-ethylene glycol (DEG), di-propylene glycol (DPG), propylene oxide, and high-purity ethylene oxide produced from the 1.1 million tonne/year Ethylene Cracker Complex.
• Propylene Glycol (Industrial and USP Grades) High-purity propylene glycol in industrial grade and US Pharmacopeia (USP) grades for pharmaceutical, food, and industrial applications.
• Ethoxylates and Raffinate-1 Ethoxylates formed by reacting ethylene oxide with alcohols, acids, or amines to enhance solubility; Raffinate-1 mixture of butenes with butane and residual butadiene for downstream chemical production.
• Asterene HDPE (High Density Polyethylene) Resins High-density polyethylene (HDPE) resin brand including grades C513UV, EHM 6007, HM 5202, HHM 5502, HHM TR-144S, HXM 50100S for blow molding, injection molding, extrusion, food packaging, industrial tanks, pipes, pallets, and containers.
• SERADOL and ACEDOL Polyols Polyether polyols for production of flexible foams (beds, furniture, automotive seats), slabstock, high resilience, viscoelastic foams, and Coatings, Adhesives, Sealants, and Elastomers (CASE) applications.
• Group 1 Base Oils Paraffinic base oils with low aromatic content, good oxidation stability, and high viscosity and temperature behavior, manufactured via solvent extraction for lubricant formulation by industrial lubricant manufacturers.
• Bitumen Black, viscous substance derived from crude oil used in road construction, asphalt production, waterproofing, and roofing applications due to strong adhesive properties and resilience.
• Slack Wax and Deasphalted Cylinder Oil (DACO) Slack wax is a complex hydrocarbon combination from solvent dewaxing used in coating and candle production; DACO is a high viscosity aromatic process oil from residual oil fraction used as extender oil in rubber and black printing ink formulations.
• Sulphur Yellow non-metallic element primarily used in production of sulphuric acid and fertilizers, also in rubber vulcanization, pharmaceuticals, and as a fungicide.
• ISCC PLUS Certified Sustainable Products Products made from mixed plastic waste (circular), biomass and bio-circular feedstock (bio-based), or with lower carbon footprint enabled through lower carbon intensity feedstocks, carbon capture, and renewable energy, with full ISCC PLUS certification.
• Aster Energy (Solar and Sustainable Energy Solutions) Solar innovation and sustainable solutions transforming the energy landscape in Singapore and the region, including solar solutions designed for manufacturing sector's unique energy demands.
• Aster Engineering (EPC and Construction Management Services) Specialized engineering, procurement, and construction (EPC) and construction management services for industrial sectors in Singapore and the region, delivering tailored solutions for operational excellence.

Quantifiable outcome

• 70-80% run rates maintained during energy crisis when competitors shut down
• +1 more outcomes

Named customers6 records

Segments5 records

Ideal customer profiles6 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability1 record

Feature4 records

Partnerships

Twelve partnerships are on record, tiered major, core and flagship.

• Toyo EngineeringmajorImplementation/ SI/ Consulting Partner · 20 May 2026Awarded engineering and construction contract for new ethylene chiller system at Pulau Bukom
• UTOC EngineeringmajorImplementation/ SI/ Consulting Partner · 20 May 2026Awarded contract for expanded export logistics at ethylene export facility
• Puraglobe GermanycoreStrategic or Co-development Partner · 24 April 2026MOU to explore developing Re-Refined Base Oil processing facility in Singapore - first outside Germany - converting used motor oil into high-grade base oils
• Cold StoragemajorStrategic or Co-development Partner · 5 March 2026Strategic partnership to transform ESSO retail fuel station experience in Singapore
• KeppelflagshipStrategic or Co-development Partner · 28 January 2026Collaboration on one of Asia's first commercial-scale Ethanol-to-Jet Sustainable Aviation Fuel facility on Jurong Island
• Air LiquidecoreStrategic or Co-development Partner · 24 November 2025MOU to collaborate on low-carbon hydrogen production in Singapore
• APR PlasticsmajorStrategic or Co-development Partner · 24 November 2025Partnership to convert up to 3,000 tonnes of multi-layer soft plastic waste annually into pyrolysis oil for food-grade packaging
• Aether FuelsflagshipStrategic or Co-development Partner · 11 November 2025Partnership to develop Southeast Asia's first commercial-scale SAF plant using Aether's Aurora technology, scheduled to start construction in 2026 and operations in 2028
• LubrizolmajorStrategic or Co-development Partner · 4 November 2025Strategic MOU to advance specialist chemical solutions in Singapore and the region
• Taghleef Industries GroupmajorStrategic or Co-development Partner · 29 May 2025Strategic partnership to revolutionize recycling of hard-to-recycle soft plastics in Australia using advanced pyrolysis technology
• Pro-Pac GroupmajorStrategic or Co-development Partner · 29 May 2025Partnership to complete circular value chain from pyrolysis oil processing through to manufacturing snack food wrappers
• SembcorpflagshipStrategic or Co-development Partner · 9 May 2025Signed over S$650 million in deals to advance energy and utilities projects in Southeast Asia

Scale indicators15 records

Recent moves11 records

Expansion highlights7 records

Direct peers

• Chandra Asri Group: Aster's 80% majority owner and direct operational counterpart — Indonesia's largest integrated petrochemical producer with cracker, polyolefin, and styrene monomer operations. Aster is explicitly deepening integration with Chandra Asri's Cilegon facility to form an end-to-end Asian ethylene value chain.
• PTT Global Chemical: Thailand's flagship integrated petrochemical company operating olefins, aromatics, and polymer assets with refining integration. Highly comparable to Aster in product mix (ethylene, propylene, polyolefins), Southeast Asian geographic focus, and integrated refinery-petrochemical business model.
• Pertamina: Indonesian state-owned integrated energy company operating refineries (including TPPI Tuban petrochemicals) producing aromatics, olefins, and polyolefins. Directly comparable in integrated refinery-petrochemical model serving the same regional customer base as Aster.

Broad incumbents

• Reliance Industries: India's largest integrated refining and petrochemicals complex at Jamnagar with world-scale ethylene crackers and polyolefin plants. A broad incumbent benchmark for Aster's integrated business model and Asia-focused scale economics.
• PetroChina / Sinopec: Chinese state-owned integrated oil and petrochemical majors operating refining, olefins, aromatics, and polymer assets at massive scale across Asia. Establish the competitive supply backdrop in Asian ethylene and polyolefin markets where Aster competes.
• SABIC: Saudi petrochemical major with advantaged ethane-feedstock olefins and a global polyolefins franchise. Directly comparable on petrochemical product portfolio (ethylene, propylene, polyolefins, glycols), though feedstock mix differs from Aster's naphtha-cracking model.
• BASF: Global chemical major with broad petrochemicals, intermediates, and specialty chemicals portfolio. Comparable on specialty chemicals (ethylene oxide, propylene oxide, glycols, polyols) and high-purity EO products that Aster produces at Jurong Island.
• Dow Inc. Global materials science company with integrated olefins, polyolefins (PE), and performance chemicals operations. Direct competitor in HDPE resins and polyether polyols markets where Aster's Asterene and SERADOL brands compete.
• ExxonMobil: Global integrated energy major with refining, petrochemicals, and base oils businesses. Comparable on integrated refining-petrochemical operations and base oil/lubricant base stock production (Group I base oils overlap with Aster's specialties portfolio).

Regional players

• SCG Chemicals: Thailand-based integrated petrochemical company operating olefins, polyolefins, and specialty chemicals with strong Southeast Asia regional focus. Comparable to Aster in regional customer base, HDPE/PP product overlap, and Asian petrochemical market positioning.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/aster-chemicals-and-energy

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries4 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Aster Chemicals & Energy