Chevron Pursues Balanced Strategy in Refinery Investments

Chevron (CVX.N) is looking to have a balanced portfolio of refineries, Brant Fish, the U.S. major's president, international products, said at the APPEC event in Singapore.

"There'll be places like Korea where we go investment heavy in petrochemicals and in heavy oil upgrading," Fish said of the firm's existing investments.

"And then there'll be refineries like here in Singapore, where we've chosen to not make those big investments and actually get a better return through most parts of the cycle on capital employed," he said.

Reuters reported in June that Chevron had sought non-binding bids for the sale of its 50% stake in Singapore Refining Company (SRC).

(Reporting by Trixie Yap and Florence Tan; Writing by Tanay Dhumal; Editing by Sonali Paul)