Singaporeans Need a Record $82,000 for the Right to Buy a Car
Vehicles travel along the Pan Island Expressway in Singapore. The cost for the right to buy a car in Singapore has reached a record high for large automobiles and risen Continue Reading
Singapore’s Sky-High Car Prices Are Warning for Global Cities
Singapore media professional Ellie Lim gave up her plan to buy a new Volvo SUV to ferry her newborn baby when she realized it was going to cost her more Continue Reading
Singapore jet fuel/kero breaches $100/b, first time in more than 7 years
Platts Seasonal heating demand, lean supplies lend support FOB Singapore jet fuel/kerosene cargo breached the psychologically important $100/b mark for the first time in more than seven years at the Continue Reading
Singapore probes unusual surge in COVID-19 cases after record
Surge came during a few hours in afternoon, authorities say ICU use rate nears 80%, more beds being added 98.7% of recent cases show no symptoms or only mild ones Continue Reading
Singapore says no disruption to electricity supply after power providers exit
Singapore’s energy regulator said on Saturday that it is working closely with retailers facing challenges from current volatile electricity prices and said there will be no disruption to their customers’ Continue Reading
Singapore marine fuel sales drop in Sept as bunker calls hit 4-year low
Marine fuel sales in Singapore fell to a 15-month low of 3.94 million tonnes in September as the number of ships calling at the world’s largest bunkering hub for bunkers Continue Reading
Shell’s Largest Refinery Reduces Crude Processing Capacity By 50%
Shell will halve the crude oil processing capacity of its largest wholly owned refinery in the world, Pulau Bukom in Singapore, as part of its ambition to be a net-zero Continue Reading
Inside Singapore’s $3 Billion Oil Trading Scandal
Singapore’s geographic location makes it a hot spot for physical oil trading. Hin Leong Trading was just named in a major $3 billion oil trading scandal The revelation of the Continue Reading
‘Sunshine to Asia’ Power Plan Moves Forward With Cable Contract
Survey work will soon begin on an ambitious plan to export power from a giant solar farm in Australia to Singapore via a 3,800 kilometer (2,360 mile) undersea cable. The Sun Continue Reading
Singapore Coastline Packed With Ships Full of Oil No One Wants
A narrow waterway off Singapore has become even more congested as oil-laden tankers wait out a slump in global fuel consumption that’s crimped demand and boosted the use of ships Continue Reading
Piracy spike in Singapore Strait prompts calls for tighter security
Coastal nations around the Singapore Strait must step up surveillance and patrols of the strategic waterway after a sharp rise in piracy incidents last year, maritime watchdog ReCAAP said on Continue Reading
Exxon makes final investment decision on Singapore complex expansion
Exxon Mobil Corp said on Tuesday it had made a final investment decision on a multi-billion dollar expansion of its integrated manufacturing complex in Singapore that would help it increase Continue Reading
Scale of theft at Shell’s Singapore refinery much greater, court documents show
Around $150 millions’ worth of oil was stolen from Shell’s biggest global refinery over several years, Singapore court documents reviewed by Reuters show, far more than reported when police first Continue Reading
Exxon Mobil eyes multi-billion dollar investment at Singapore refinery: executive
Exxon Mobil Corp ( XOM.N ) is considering a multi-billion dollar investment at its Singapore refinery, the company’s largest, ahead of new global shipping fuel regulations starting in 2020, a Continue Reading
Singapore to introduce carbon tax in 2019
Singapore will introduce a tax on emissions of S$5.00 per ton of carbon dioxide equivalent ($3.80/tCO2e) from 2019, according to The Straits Times . The move was announced in the Continue Reading
Shady triangle: Southeast Asia’s illegal fuel market
An alleged oil heist in Singapore that has already led to 20 arrests, the seizure of at least one tanker and allegations that thieves siphoned thousands of tonnes of fuel Continue Reading
Plunging Oil Prices Create Bad-Loan Headache for Singapore Banks
DBS exposed to liquidation of oil-services firm Swiber Moody’s says energy lending is 5.3 percent of Singapore loans The plunge in oil prices is catching up with Singapore’s three largest Continue Reading
Around half Iran’s Feb fuel oil exports seen set to end up in Singapore
Around half of Iran’s estimated 1.2 million mt of fuel oil exports loading in February are expected to end up in Singapore, market sources said this week. Iran is believed Continue Reading
Shell finds gas offshore Malaysia
Shell said Thursday it encountered a major deposit of natural gas while drilling in the deep waters off the coast of Malaysia. Shell said it encountered a gas column measuring 1,476 feet thick while drilling its Rosmari-1 well in deep Malaysia waters. "With further exploration planned, the finding is a positive indicator of the gas potential in an area of strategic interest for Shell,’ the company said in a statement . Shell has a controlling interest in Rosmari-1 in partnership with Malaysia’s state-owned energy company Petronas. The U.S. Energy Information Administration reports Malaysia has about 83 trillion cubic feet of proven natural gas reserves and is No. 3 in the world in terms of exports of liquefied natural gas behind Qatar and Indonesia. Exxon Mobil Corp. in February said it started production at the Damar field off the coast of Malaysia, which has a projected capacity of 200 million […]
Golfers to Indiana Jones Choke on Smog From Sumatra Fires
As smoke from Indonesia ’s burning forests drifted across the Strait of Malacca into Singapore last June, the pollution index shot up and Ong Eng Tong’s golf course shut down. “Once the PSI reaches 150 or 200, they have to close,” said Ong, a 71-year-old independent energy consultant. His Singapore Island Country Club was overwhelmed as the Pollutant Standards Index surged on June 21 to a record 401, a “hazardous” reading in a city averaging less than 50 on most days. “I stayed indoors and turned on the air-con.” This year may be worse, stoked by drought and El Nino. Backed by activists including Harrison Ford, Singapore is pushing fines for culprits overseas. Even Indonesia is faulting last month’s local response to blazes that sickened 50,000 in Sumatra, where fires are set to turn forests into crop fields. Burning in the region’s peatlands emitted as much […]
Haze Shrouds Malaysian Capital Amid Forest Fires and Drought
Smoke from forest and peat-soil fires drove air quality to unhealthy levels in and around Malaysia’s capital of Kuala Lumpur today, adding to the burden of water rationing after a month-long drought. The government’s air pollutant index climbed to as high as 137 in Port Klang this morning, with seven parts of Kuala Lumpur and the states of Selangor and Negri Sembilan recording levels above 100, which is classified as unhealthy. Cloud-seeding has begun to induce rainfall over dams and water-catchment areas, the Star reported today, citing Malaysia’s Meteorological Department. “We are trying to identify fire-prone areas, especially peat-soil land and steps are being taken,” G. Palanivel, Malaysia’s natural resources and environment minister, said in a text message to Bloomberg News today. Disputes over haze flare up regularly between Indonesia and its neighbors. The latest was in June, when smog in Singapore reached a record […]
Exxon Mobil launches Singapore petrochemical processing
Exxon Mobil has inaugurated a petrochemical processing facility in Singapore on the island of Jurong. The facility is part of the expansion of an existing chemical plant that was built in 2002 and currently accounts for about a quarter of Exxon Mobil’s global chemical capacity. Exxon Mobil Chairman and Chief Executive Officer Rex W. Tillerson, speaking at the plant inauguration Wednesday, said global chemical demand would grow faster than gross domestic product expansion as living standards continue to rise and people purchase more household and packaged goods manufactured with chemical products. "Two-thirds of that growth in chemical demand will be here in the Asia-Pacific region," Tillerson said. "Exxon Mobil’s expanded Singapore chemical plant is uniquely positioned to serve these growth markets — from China to the Indian subcontinent and beyond." Exxon Mobil says the facility incorporates more than 40 new proprietary technologies and is […]