Speaking at the Hydrocarbon Asia Conference, the chairman of the Shell Companies (Singapore), Lee Tzu Yang said, "Shell will remain a major refiner in the eastern market. Supply security is important and we wish to expand our oil products sales and services in the region."

However, Lee mentioned that the company's operations in Japan were under review. "Refinery restructuring is underway in Japan. We will only invest in refineries that we are confident have a robust future and we will accept a lower level of sales cover from our own refining system," said Lee.

Lee made the statements as a response to speculations that the Anglo-Dutch giant was thinking of shedding some of its Asian operations due to their poor returns. Shell has been reviewing its refining assets in Asia for the last few years.