Singapore does not have any pure oil assets but local firms are actively involved in exploration in various elements of Asia Pacific. Singapore Petroleum Company Restricted (SPC) has exploration operations in China, Hongkong, Thailand, Vietnam, Cambodia, Malaysia, Indonesia and Australia.
Singapore’s consumption of oil was 1,002 thousand barrels in 2010, a rise of three.5% over 2009 figure. Its gas consumption was 9.7 billion cubic metres, amounting to 5.6% improve in comparison with 2009. Town-state is a serious hub in Asia for oil trading, each for physical supply and in monetary instruments.
As a bulk liquids hub, it ranks amongst the top three on this planet. The Singapore oil sector is not a standalone industry. Refining has been a catalyst for the chemical industry, in addition to creating different sub-sectors corresponding to oil and gas equipment and oil rig manufacturing.
SINGAPORE OIL INDUSTRY
Then metropolis-state has grow to be an vital refining and distribution centre for refined oil products. Most of the Republic’s offshore petroleum services are concentrated at Loyang Provide Base, which for practically four decade, has raised its standing as Southeast Asia’s key offshore logistic hub. There are more than 200 well-established oil and gas service companies in Singapore. Amongst them are world terminalling and storage companies like Vopak and Oiltanking, which set up operations in the nation within the 80’s.
Vopak operates the following terminals in Singapore:
Banyan Terminal (1,253,619 cbm);
Penjuru Terminal (237,950 cbm);
Sakra Terminal (288,070 cbm);
Sebarok Terminal (1,260,958 cbm);
Oiltanking Singapore Limited has a complete storage capability of 1,165,680 cbm at Seraya Avenue and JI Freeway. Horizon Singapore Terminals operates a 1,237,four hundred cbm facility on Jurong Island.
In 2007, JTC Company, the national infrastructure developer commenced development of Jurong Rock Caverns which is a network of tunnels for storage of liquid crude oil, condensate and merchandise like naphtha. At a value of $950 million, the primary part will offer storage for 1.Forty seven million cubic metres, or about 9 million barrels of liquid crude oil, condensate and products like naphtha. A second part with 6 additional caverns, will develop storage capacity by an extra 1.32 million cubic metres. In further to rock caverns, JTC has additionally lately concluded a technical feasibility research to build a floating structure for oil, primarily based on similar storage platforms in Japan. The floating storage barge, with a capacity of 300,000 cubic metres, shall be anchored near one of many smaller islands off Singapore.
Singapore is also host to 2 of the world’s greatest oil rig builders, Keppel and Sembcorp Marine, which provide important marine and offshore engineering activities in the assembly and maintenance of FPSO conversions, fast ferries, ship repairs, offshore assist vessels and jack-up rigs.
In shifting the vitality trade up to the next stage, Singapore seeks to extend its refining capacity from the present 1.3 million barrels per day. The enlargement of current refineries and optimization of refinery operations won’t only help to take care of Singapore’s share of worldwide refining capacity however extra importantly, put the country in good stead to boost the expansion of its oil trading activities by creating the important quantity of export-oriented refining throughput.
Singapore is a robust base within the area for R&D. Inside the vitality sector, it’s fast gaining management as an R&D base for different fuels and the next era of biofuels. It is usually channeling its R&D capabilities in the direction of growing excessive-value merchandise similar to lubricants. In its effort to extract more worth from refineries, Singapore has achieved headway in key R&D areas resembling course of optimization and catalyst development which maximize using current refinery belongings.
SINGAPORE Fuel Business
Natural gasoline consumption has increased in recent times, mainly attributable to authorities programmes encouraging the use of natural gas in order to reduce carbon dioxide and sulfur emissions.
In the pipeline business, Singapore Petroleum Company holds pursuits in three regional gasoline transmission pipelines. The 654-kilometre West Natuna Transportation System is the first Singapore cross-border sub-sea gasoline pipeline carrying gas from the West Natuna Sea to Singapore. A consortium of PSC blocks in West Natuna including the Kakap PSC owns this pipeline.
Singapore Fuel Pipelines
The second direct gasoline pipeline is the 468-kilometre Grissik-Batam-Singapore pipeline linking Indonesia to Singapore. Gas to Singapore commenced in 2003 beneath a 20-yr time period contract between Singapore and Indonesia. The third gas pipeline is the 536-kilometre Grissik-Duri pipeline that transmits fuel from Grissik gas fields to Caltex’s Duri services beneath lengthy-time period contracts that commenced in 1998.
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