14 December 2010
Singapore independent oil storage grows and grows
The Singapore oil-supply hub handled more volume than ever last year, gaining rather than losing from expansions in refining capacity around Asia, Martin Quinlan writes
SINGAPORE’s oil-trading and storage businesses always manage to defy the sceptics. In 2010, a record volume of oil flowed through the port and – although traders complained about margins – independent storage operators saw their fees increase. The downturn in world economies in 2009 came a year after Singapore’s independent storage capacity had increased sharply, prompting forecasts of difficult times ahead. But in 2009, a large volume of new refining capacity in India, China and elsewhere in Asia came on stream, leading to increased flows of products through the regional hub. As economies perked-up in 2010, Singapore benefited from the increased demand. According to the Maritime and Port
Also in this section
23 April 2026
The addition of an oil pipeline to the Power of Siberia 2 gas project could ensure deliveries of Russian oil to China, materially shorten logistics lines between West Siberia and final customers, and—amid disruption in the Strait of Hormuz—offer a land-based export route that reduces exposure to maritime chokepoints
23 April 2026
There is a clear push to bolster exports to Asia amid uncertainty around its North American neighbour, but there are limits to the benefits from the energy crisis
23 April 2026
Shell made the play-opening discovery in Namibia’s Orange basin back in 2022, but its next well could decide whether the project can actually be commercialised
22 April 2026
The failure of OMV Petrom’s keenly watched exploration campaign at Bulgaria’s Han Asparuh block highlights the Black Sea’s uneven track record, despite major successes like Neptun Deep and Sakarya
