Cleaning out the oil barrel
Singapore’s oil refining sector has navigated decades of disruptions. Low-carbon fuel is its next battleground in managing energy transition.
SINGAPORE’S petroleum sector occupies a pre-eminent position in the history of energy and oil.
As early as the 19th century, Singapore’s deep-water port, positioned strategically along key trade routes to Asia, was being used as a storage hub for petroleum fuels.
Singapore has hosted the predecessor of nearly every major global oil company that has ever stored, traded, produced or processed petroleum fuels, such as M Samuel & Co, which later became Shell Transport and Trading, and Rockefeller’s Standard Oil, which would later evolve into companies like Caltex, Texaco, Esso, Mobil, BP, ExxonMobil and Chevron.
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