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Singapore Overview

Singapore

in figures

Primary Energy Consumption86.5 million toe

Oil Consumption1.43 million bopd

Refinery Throughput1.07 million bpd

Singapore: Trade and Technology

The lack of resources in the ground might initially suggest a country with a fairly stagnant hydrocarbons industry, but Singapore is anything but. A major trading centre and a hub for oilfield technology, the city-state plays a pivotal role in the Southeast Asian energy landscape.

Due to its favourable tax regime, strategic location, transportation infrastructure and stable political climate, Singapore has come to serve as a base for oil and gas companies involved in exploration and production activities in Southeast Asia. The diminutive city-state has become a magnet for international oil companies. The upstream industry is no exception – despite Singapore’s lack of oil or gas reserves, companies such as ExxonMobil and Murphy Oil have chosen the country as their regional base for upstream operations.

With a crude refining capacity of just under 1.4 million barrels per day, almost 90 per cent of Singapore’s primary energy consumption comes from petroleum use, mostly for refining. This industry is critical to Singapore’s economy, which continues to benefit from strong growth in regional demand for petroleum products.

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Exxon acquires Singapore aromatics plant

Exxon acquires Singapore aromatics plant

August 28, 2017

The sale of Jurong Aromatics Corporation’s giant Jurong Island aromatics plant to ExxonMobil’s Singapore affiliate has…

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NAPEC 2020 News
ExxonMobil to buy Singapore asset
May 11, 2017

The Singapore branch of ExxonMobil Chemical Company late on Wednesday said it had reached a deal with Jurong Aromatics Corporation on the purchase of its eponymous…

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Keppel sees slow recovery
January 26, 2017

Singapore’s Keppel on Thursday announced its fourth quarter and full-year 2016 results, with the company bracing for a prolonged slump in the offshore sector.

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Vallianz inks $21 mln vessel deal
January 07, 2016

Vallianz Engineering has signed a $21.8 million purchase agreement to acquire two new-build vessels, the Vallianz Holding subsidiary announced in a Thursday…

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EMS’ $570-million letter of intent
October 23, 2015

EMS Group has signed a $570-million binding letter of intent for services at an undisclosed shipyard in Asia, the company announced in a Thursday press release.

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Keppel wins four contracts
August 12, 2015

On Tuesday, Keppel Offshore & Marine, a wholly owned subsidiary of Singaporean marine services company Keppel Shipyard, announced in a press release that it had…

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