Energyboardroom.com releases new Singapore Oil and Gas report
15.12.2013 / Energyboardroom
Singapore has been an oil-trading hub for over 120 years, and since the 1960s, the country has been a major global refining base. However, it is in the last generation that Singapore’s oil and gas industry has really undergone a major revolution, with a boom in oil and gas related activities in both infrastructure and finance. This new free report from EnergyBoardroom on the Singapore oil and gas sector gets to the heart of why Singapore matters when it comes to hydrocarbons, and how the city-state can strengthen that position in today’s globally competitive environment.
On the infrastructure side, Singapore has grown to become a major energy and petrochemicals hub for Southeast Asia as a result of its solid infrastructure and strategic positioning. Singapore is also one of the world’s top three export refining and oil and gas trading centers, with a refining capacity in excess of 1.3 million barrels per day (bpd) in 2012. In 2012, oil exports accounted for 21 percent of total exports. Furthermore, the so-called ‘little red dot’ is one of the world’s busiest marine bunkering hubs and a major oil and oil product pricing center.
In addition to this, Singapore is recognized as a premier global offshore construction and servicing hub. Speaking at the opening ceremony of the Offshore Southeast Asia Conference and Exhibition (OSEA) in November 2012, Second Minister for Trade and Industry S. Iswaran highlighted that “with rising offshore drilling and production activities, the demand for offshore rigs, platforms and support vessels is set to increase. Singapore is well placed to ride this offshore wave as our shipyards have built up a sound track record of providing cost-effective, safe and timely deliveries. We are also able to meet customer’s needs by offering a full spectrum of customized products and in-house proprietary designs for offshore rigs.”
The Singapore Exchange (SGX) has made clear its intentions to become a regional center for oil and gas firms seeking to raise capital. Lawrence Wong, executive vice president & head of listings at SGX, explains that “from an oil and gas perspective, Singapore is an oil hub, a refinery hub and a commodities hub, and gives it the crucial background it needs to become a leading exchange platform for oil and gas companies.” Simon Crellin, director at Deloitte Petroleum Services, explains that in comparison to larger exchanges around the world, Singapore has an advantage in its chosen direction of oil and gas. “By contrast, the SGX has a concentrated list of oil and gas E&P companies, and because of this, a good story will get a lot more traction than on the larger exchanges.”
Given the positive industry outlook in the region and Singapore’s business environment – conducive for international operations has and with an ability to attract top global talent – it is easy to see why so many international players have established regional, or even global, operations in the country.
Written after exclusive interviews with the country’s leading decision makers, from operators to service providers, policymakers to leading figures in the world of finance, this is a unique resource for those looking beyond figures.
Michael Chia, Chairman, Singapore Maritime Foundation
Lawrence Wong, Executive Vice President & Head of Listings, Singapore Stock Exchange
Thomas H. McNutt, Head of Regional and Public Affairs, AmCham Singapore
Clive Christison, CEO & Director, Integrated Supply & Trading (IST), BP Eastern Hemisphere
Arno Bracco Gartner, Energy Division Director, Brunel
Simon Crellin, Director, Deloitte Petroleum Services
Ernst Meyer, Vice President and Regional Manager, Det Norske Veritas Singapore
Howard Pang, General Manager, Horizon Singapore Terminals
Richard Lorentz, Founding partner and Director Business Development,KrisEnergy
Maarten van Aller, COO, Floating Production, Petrofac
Ben Arnott, Director Oil & Gas Corporate Finance, Standard Chartered