Chevron Corp is reshaping its refinery strategy across Asia, aiming for a mix of heavy investments in some markets and leaner operations in others.

At the Asia Pacific Petroleum Conference (APPEC) in Singapore, Brant Fish, president of Chevron’s international products division, said the company is focusing on tailoring its approach to different regions.

“In Korea, we are investing significantly in petrochemicals and advanced oil upgrading,” Fish noted. “Meanwhile, in Singapore, we’ve chosen to keep operations lighter, which has delivered stronger returns across market cycles.”

The U.S. oil giant has been reassessing its Singapore operations. Earlier this year, reports suggested Chevron was exploring potential buyers for its 50% stake in the Singapore Refining Company, a venture it co-owns with PetroChina.

By balancing capital-heavy projects with more streamlined facilities, Chevron hopes to strengthen its resilience against shifting energy markets and demand trends.