The Competition and Consumer Commission of Singapore (CCS) has opened a public consultation regarding the proposed acquisition of Chevron Singapore Pte Ltd by ENEOS APAC Pte Ltd. The application for this acquisition was accepted by CCS on 2 October 2026, and the commission is now seeking feedback on whether the transaction would breach section 54 of the Competition Act 2004.
ENEOS APAC, a subsidiary of Japan-based ENEOS Holdings Inc, is involved in various energy sectors in Singapore, including crude oil trading and solar energy solutions. Meanwhile, Chevron Singapore, a subsidiary of Chevron Corporation, operates in the marketing and distribution of fuels and lubricants, with significant operations in Singapore and Vietnam.
Post-acquisition, Chevron Singapore will continue to operate under its existing brands, such as Chevron and Caltex, with ENEOS taking over its operations in Singapore. ENEOS APAC has stated that the acquisition will not significantly impact competition, citing the presence of numerous competitors and low entry barriers in the lubricant market.
CCS is inviting public submissions on the potential competitive impact of the acquisition until 16 October 2026. Feedback can be submitted via the CCS website, where further details on the consultation process are available.
