Push to sharpen long-term edge of S'pore petrochemical sector

Singapore

EVEN as profitability in Singapore's petrochemical sector soared to a new high last year, the government is working to enhance the competitiveness and resilience of the sector, to prepare for tougher times ahead.

This includes working with companies to increase the flexibility of their feedstock and lower utilities cost, as well as improving their import and export options, said the Economic Development Board's (EDB) director for energy and chemicals, Damian Chan.

"Margins have been good for the chemicals industry in Singapore over the past year. The key thing for this sector, and in the context of Singapore, is that eventually oil prices will go back up again," he said.

The government agency will therefore work at ensuring that the energy and chemicals sector continues to be competitive and resilient, he told The Business Times in his first interview since taking over the portfo…