International News 23 January 2026
-
Chevron Targets Sale of Singapore Refining and Fuel Assets to Eneos, Glencore
Chevron is aiming to завершe the sale of its refining and fuel distribution assets in Singapore in the first quarter of 2026, as it enters the final stage of talks with Japan’s Eneos and global commodities trader Glencore, according to sources cited by Reuters. The assets up for sale include Chevron’s 50% stake in Singapore Refining Company (SRC), a 290,000-barrel-per-day refinery, the Penjuru terminal with over 400,000 cubic meters of storage capacity, and Caltex-branded fuel retail networks in Singapore, Malaysia, and Cambodia. The deal is estimated to be worth at least US$1 billion and is part of Chevron’s broader strategy to divest refining and storage assets in Asia as it restructures globally to streamline operations and cut costs. Morgan Stanley is advising Chevron on the sale, while Boston Consulting Group is advising Eneos. Analysts say the assets are strategically attractive due to Singapore’s role as a major fuel blending and bunkering hub, offering strong distribution access to Southeast Asia. For Eneos, Japan’s largest refiner, the acquisition would mark its first refinery asset outside Japan and support its overseas expansion strategy, including jet fuel facilities amid rising international travel demand. Glencore, which already owns refining and distribution assets in South Africa and has expanded in Asia through a joint venture at Singapore’s Bukom refinery, is also seeking to grow its energy trading volumes in the region. Both bidders declined to comment on the talks, which remain ongoing.
Trump Backs Down on Tariff Threats Over Greenland Dispute
On Wednesday (Jan 21, 2026), U.S. President Donald Trump announced the cancellation of planned tariffs on eight European countries, reversing his earlier threat that was aimed at pressuring Europe as part of his push for U.S. control over Greenland. In a social media post, Trump said he had reached an agreement with NATO leaders on a “framework for a future deal” concerning Arctic security, a move seen as easing geopolitical tensions. He also said further discussions on Greenland were underway, particularly related to the US$175 billion “Golden Dome” missile defense program, which would place U.S. weapons in space. In an interview with CNBC, Trump did not disclose details of the deal but described it as a “forever deal” that would enhance U.S. security. This reversal follows a familiar pattern for Trump, who has previously threatened sweeping tariffs before softening his stance, including an episode last April that unsettled global markets. The latest shift came after his speech at the World Economic Forum in Switzerland, where he highlighted Greenland and nearly rattled NATO by questioning the alliance’s reliability. Trump argued that the U.S. had long “saved Europe” and suggested he could use excessive pressure to achieve his goals, though he later insisted he would not. His remarks prompted NATO Secretary General Mark Rutte to reaffirm that NATO would stand by the U.S. if attacked. Shortly afterward, Trump withdrew the tariff threats, signaling a de-escalation in the dispute.
Trump Nears Decision on Next Fed Chair as Tensions With Powell Escalate
U.S. President Donald Trump signaled he is close to choosing a successor to Federal Reserve Chair Jerome Powell, saying the selection process has narrowed to a single candidate in his mind. Speaking to CNBC on the sidelines of the World Economic Forum in Davos on Wednesday (Jan. 21, 2026), Trump said the shortlist had gone from three to two and now possibly to one. He praised all remaining contenders, singling out Rick Rieder, BlackRock’s head of global fixed income, as impressive, while other names previously mentioned include Fed Governor Christopher Waller and former Fed Governor Kevin Warsh. Trump also said he wants to keep White House economic adviser Kevin Hassett in his current role, calling him too valuable to move. Treasury Secretary Scott Bessent confirmed earlier that the list had been narrowed, though Trump said Bessent prefers to remain Treasury Secretary. An announcement on the new Fed chair could come shortly before or after the Davos meetings. Trump renewed his criticism of Powell, accusing him of being too slow to cut interest rates and faulting his overall leadership. He said he wants a Fed chair like former long-serving chairman Alan Greenspan and argued that strong economic growth does not necessarily require higher rates. The remarks come amid rising friction between the administration and Powell, including a criminal investigation and a subpoena related to renovations at the Fed’s headquarters—moves condemned by Greenspan and other former senior officials. Powell has said such threats stem from the Fed’s independence in setting policy. Trump, who originally appointed Powell in 2017 and whose term as chair ends in May 2026, even hinted at pressuring him to step down early, though Powell has not stated his future plans.
https://internasional.kontan.co.id/news/donald-trump-calon-ketua-the-fed-tinggal-satu-di-kepala-saya