Overview
Oil & gas sector the second largest export revenue contributor in the country
As the fifth-largest oil refinery and export hub, and one of the top ten petrochemical exports in the world, Singapore has a refining capacity of 1.3 million barrels per day, as of January 2021. The country is home to three oil refineries - ExxonMobil with a capacity of 605,000 barrels per day, Royal Dutch/Shell with 500,000 barrels per day and the Singapore Refining Company with 290,000 barrels per day. Jurong Island is the heart of Singapore’s chemical and energy industry, hosting over 100 international petroleum, petrochemical and chemical companies.
The petrochemicals industry, which is the second largest export commodity in Singapore, contributed SGD 82 billion (16% of total exports) to the economy in 2021.
Petrochemical and marine fuel sub-sectors key to Singapore’s economy
The petrochemicals industry dominates Singapore’s energy consumption, representing 62% of total energy consumed in 2021, followed by electricity and natural gas; 76% of the country’s oil consumption is directed towards industrial activities (predominantly petroleum products), followed by transport, which consumes around 23%, as per the figures released in 2019.
Singapore is also one of the largest ship refueling destinations (a sector valued at over USD 30 billion in Asia) with the world’s largest bunkering port. Its total bunkering sales volume was recorded at 50 million tonnes in 2021.
Singapore government increasingly promoting usage of natural gas
Natural gas accounted for 95% of the country’s sources of electricity generation in 2020 and is one of the key resources for Singapore, with the government promoting the usage of natural gas. Singapore consumed around 13 billion cubic meters of natural gas in 2020.
The country’s gas network consists of two lines - a natural gas pipeline, predominantly for electricity generation and industrial activities, and a town gas pipeline (produced by City Energy), which is consumed by residential and commercial customers.
Singapore’s oil exports for the month of December 2021 were SGD 9 billion, accounting for 15% of the country’s total exports. Oil exports consisted mainly of petroleum exports worth SGD 6 billion and oil bunkers worth SGD 3 billion. Oil imports, which are mainly petroleum imports, amounted to SGD 9 billion, representing 18% of the country’s total imports for the month of December 2021.
Singapore’s net exports accounted for 32% of its GDP in 2020. The oil & gas and petrochemical industry output was estimated at USD 60 billion in recent years.
Key trends
Value of oil exports increased from price hike in 2021 but volumes recorded slower growth
Oil exports expanded by 62% YoY for the month of December, after recording 115% YoY growth for November 2021, owing to the lower base figures in 2020 (23% decline), which were impacted by the oil price decline. The oil price per barrel increased 48% YoY in December, from USD 50/barrel in 2020 to USD 74/barrel in 2021.
The oil prices dropped in 2020, impacted by the pandemic, as a result of failed agreements on production cuts, while the demand for chemicals and refined products were softening due industrial slow-downs and travel restrictions.
In terms of export volume, oil exports increased by 2% YoY for December compared to the 19% YoY growth in November 2021. The oil export volume declined by 18% on a month-on-month basis from November to December, after recording a 22% monthly growth in November.
Singapore’s value of energy imports (151.2 Mtoe in volume) declined by 8% YoY in 2020 as a result of lower imports of petroleum products and crude, which constitutes 62% of energy imports. Energy exports also decreased by 13% YoY from 87.7 Mtoe in 2019 to 76.5 Mtoe in 2020 due to lower exports of crude oil (1.0 Mtoe) and petroleum products (75.5 Mtoe) in 2020. LNG imports also declined in 2020 by 11% YoY, from 3.6 Mtoe in 2019 to 3.2 Mtoe in 2020.
Bunker sales volume for the period January-November 2021 was recorded at 46 million mt. The sale of marine fuel remained resilient during 1H 2021 with a 4% YoY growth in May 2021 to 4 million mt, but falling by 4% MoM. This was due to the Covid related restrictions the country imposed on vessels arriving from countries with a high number of cases such as Bangladesh, India, Pakistan and Sri Lanka.
However, the country’s marine fuel terminal is facing delays in the loading of bunker fuel with the queue of barges waiting to load getting longer and the loading duration lengthening due to the labor shortages amidst increases in Covid-19 cases.
Singapore aims to become the regional hub for LNG
Singapore plans to import LNG for all of its natural gas demand after the expiration of its natural gas pipeline contracts in 2024. The country is also extending its import capacity for LNG, committing over USD 500 million for the expansion of its existing LNG terminal, with the aim of becoming the largest LNG trading hub. The upgraded terminal will be able to handle nearly 9 million metric tons per year, positioning Singapore as an LNG bunkering center.
In this context, Singapore has created an LNG price index, ‘SLiNG’, in order to connect Asian LNG buyers and sellers through Singapore. The country has also taken significant strides towards liberalizing its gas market with the aim of creating an efficient and transparent domestic spot market, secondary markets and third-party access to gas storage facilities. This is expected to position the country as a hub for the Asia-Pacific LNG market.
Singapore achieved a key milestone in its push for maritime decarbonization, becoming the first port in Asia to commence regular ship-to-ship LNG bunkering operations in March 2021. Singapore’s Maritime and Port Authority has provided incentives (concessions on port dues and co-funding for LNG-fueled bunker tanker construction) for vessels calling at Singapore, to promote its LNG bunkering sector. The country has also signed agreements with ports worldwide to initiate the use of LNG as a bunker fuel.
Singapore LNG (a state-owned company) and Keppel Infrastructure announced an LNG extraction project in June 2021, which will remove heavier hydrocarbons from LNG by using cold energy, reducing carbon emissions. The extracted natural gas liquids are to be used as feedstock for chemical complexes.
Increasing competition in the marine fuel industry growing demand from regional peers, amidst China’s production to support its port
With upcoming mega-scale oil refineries under construction in China, India and South Korea, Singapore faces tough competition in the marine fuel industry. Singapore is projected to face tight supply as the country’s bunker fuel volumes are expected to shrink in 2022, as neighboring ports demand higher volumes.
With China ramping up its fuel production to its advantage, Singapore is expected to face stifling competition from its neighbors. However, Singapore's strategic location, its strict law and enforcement regime, in addition to its strong port and bunkering infrastructure, is expected to sustain the industry. That said, sector experts are cautious on the sector outlook as shipping restrictions related to Covid-19, weak bunker margins and supply chain bottlenecks pushing ports to switch to China could weigh on the industry.
Singapore plans to shift towards sustainable fuel to obtain first-mover advantage
The Sustainable Jurong Island project aims to transform the petrochemical park into a Sustainable Energy and Chemicals Park that operates and exports sustainable products globally. The project aims to increase sustainable energy and chemical outputs by 1.5 times from its 2019 levels, in addition to targeting a minimum of 2 million tonnes of carbon capture potential by 2030.
Key Statistics
- Total exports of energy products in 2020 consisted of 99% petroleum products such as Fuel Oil, Gas/Diesel Oil, Gasoline, Jet Fuel Kerosene, Naphtha and Other Petroleum Products, amounting to 75,513 ktoe
The energy & chemicals sector currently contributes to about 20% of Singapore’s total output and employs 27,000 people
The EDB projects a weaker chemical manufacturing sector outlook for the first quarter of 2022, in anticipation of raw material price hikes and logistical delays owing to the supply chain crisis
Around 60% of Singapore’s refined petroleum products are exported to Malaysia, Indonesia, Australia and China
- Singapore’s LNG Terminal, which has been operating since 2013 with four tanks, has a total storage capacity of 800,000 cubic meters as of 2020. Singapore recorded 0.05 million tonnes of volume in LNG bunker sales for 2021
- Singapore imported 70% of its total LNG from Australia and the United States, in addition to obtaining LNG via its pipelines from Malaysia and Indonesia in 2020
- The Singapore Petroleum Company (SPC), a state-owned energy company that’s now a fully owned subsidiary of PetroChina International, has an exploration and production portfolio of nine assets in the Asia Pacific Region
- The company has 1 production permit and 8 production sharing contracts, in addition to 2 natural gas pipelines across Australia, Cambodia, China, Indonesia and Vietnam
Top Singapore MNCs in Oil & Gas Companies
SHELL EASTERN PETROLEUM (PTE) LTD
Shell has been in Singapore since 1891, and its businesses include liquefied natural gas trading and marketing, oil product manufacture, trading, marketing, and shipping, and the development of sustainable energy solutions. The Shell group's parent company is Shell Plc, which is based in England. As the world's energy system transforms, the company's approach to business is based on safety and social responsibility. Shell won the Randstad Employer Brand Sector Awards in 2018, and also received the Achievement of Excellence award at the Sustainable Business Awards in 2012.Company name was changed in January 2022.
CHEVRON SINGAPORE PTE. LTD.
Chevron Corporation is a multinational energy corporation based in the United States. Its downstream activities produce and market fuels, lubricants, additives, and petrochemicals. Chevron Singapore Pte. Ltd. is its operating subsidiary. It serves as the regional headquarters for the company’s downstream operations in Asia, which include manufacturing, marketing, and lubricants. Chevron's joint-venture manufacturing in Asia and joint-venture aviation businesses in the Middle East are also managed by this entity. Chevron is committed to producing exceptional value for its investors, customers and partners, the Singapore government, and local communities. Chevron Singapore was honored for its human resources (HR) activities in 2009 and 2010.
SINOPEC HONG KONG (SINGAPORE) PTE. LTD.
Sinopec Hong Kong is a subsidiary of China Petroleum & Chemical Corporation ("Sinopec Corp"), which was incorporated in 1991 and is headquartered in Hong Kong. Sinopec Corp is Asia's oil refiner, with stock exchange listings in Shanghai, Hong Kong, New York, and London. Its primary activity is the selling of gasoline, gasoil, fuel oil, and jet fuel in the Asia-Pacific region. The 21st China Patent Award was announced by the China National Intellectual Property Administration. Sinopec received honours for ten patents, including one gold medal, three silver awards, and six exceptional awards.
SK ENERGY INTERNATIONAL PTE. LTD.
SK Energy, Korea's first oil firm, was founded in 1962. It manufactures and sells various petroleum products at the Ulsan Complex, which has a refining capacity of 840,000 barrels of crude oil per day, in both domestic and international markets. SK Energy is making a corporate-wide effort to improve process speed, flexibility, and efficiency. SK Energy is investigating differentiated growth engines based on worldwide relationships and plans to revamp its business structures.
NOVATEK GAS & POWER ASIA PTE. LTD.
Novatek is an independent natural gas producer in Russia. The company's primary activities include the exploration, production, processing, and sale of natural gas and liquid hydrocarbons, and it has 25 years of operational expertise in the Russian oil and gas sector. Novatek was incorporated in 1994 and entered the global LNG market in 2017 with the successful launch of the Yamal LNG project. The company won the CWC World LNG Award for Outstanding Contribution in 2018 and was also honoured at the Petroleum Economist Awards and the MarCom Awards in 2019.
BP SINGAPORE PTE. LIMITED
BP plc is a global British oil and gas corporation which was founded in England in 1908. BP's main business activities in Singapore include the trading of oil, gas, chemicals, carbon, and finance for the Eastern Hemisphere, which includes the Middle East, South and East Africa, Australia, India, Southeast Asia, and China. Singapore also serves as the regional headquarters for shipping, consumer lubricants, industrial lubricants, marine fuel and lubricants, and aviation fuels with international markets and customers.
CONOCOPHILLIPS ASIA VENTURES PTE. LTD.
Incorporated in 2001, ConocoPhillips is an E&P business. ConocoPhillips is committed to efficient and effective oil and natural gas exploration and production. Producing and transporting oil and natural gas requires imagination, technology, and investment. The company produces, transports, and markets crude oil, natural gas, natural gas liquids, liquefied natural gas, and bitumen on a global scale—energy that is critical to global economic development and human advancement.
EXXONMOBIL ASIA PACIFIC PTE. LTD.
ExxonMobil, one of the publicly traded oil and gas companies, leverages technology and innovation to assist in satisfying the world's expanding energy demands. ExxonMobil's presence in Singapore began in 1893 with the establishment of the Vacuum Oil Company, which supplied mostly kerosene and lubricants under the Mobil Oil brand name. To accommodate rising demand in Singapore and the Asia-Pacific area, the refinery produces a diverse range of fuels, lubricant base stocks, and specialised products, including low-sulfur diesel. It also serves as an advantageous feedstock for the chemical plant.
PETROCHINA INTERNATIONAL (SINGAPORE) PTE. LTD.
China National Petroleum Corporation is a state-owned backbone enterprise and a multinational oil and gas producer and supplier. PetroChina International, headquartered in Beijing, was created in 2002 and has subsidiaries and offices in over 20 countries, including three major oil and gas trading and operation hubs in Houston, London, and Singapore. It is a global energy corporation that combines novel materials, support and services, capital, and financing. PetroChina will be rated fourth in the Fortune Global 500 by 2021. In 2020, it was placed third among the world's 50 largest oil corporations in a comprehensive rating.
ARAMCO TRADING SINGAPORE PTE. LTD.
Aramco Trading was founded in 2011 with the consent of Saudi Aramco's Board of Directors as the company's trading arm. Saudi Aramco is headquartered in Saudi Arabia. Its wholly owned subsidiary began trading refined goods, blending components, bulk petrochemicals, and polyolefins in January 2012. As of 2020, Aramco Trading Limited (ATL) in the United Kingdom, Aramco Trading Fujairah (ATF) in the United Arab Emirates, and Aramco Trading Singapore (ATS) in Singapore are the company's three subsidiaries, giving it greater market access, a larger customer base, a more talented and diverse workforce, and a more sophisticated and integrated global business model.
Top Singapore Large Local Enterprises in Oil & Gas Companies
SEMBCORP INDUSTRIES LTD
Sembcorp Industries Ltd. is an investment holding company that produces and supplies utility services, as well as terminals and stores for petroleum products and chemicals. It operates in four segments: energy, marine, urban, and others/corporate. It was started in 1998 and is headquartered in Singapore. It uses its sector knowledge to create innovative solutions that aid in the energy transition and sustainable development. It intends to transition its portfolio toward a cleaner future by focusing on increasing its renewables and sustainable urban solutions businesses. Asia is home to two of the world's major renewable energy markets, China and India. Sembcorp was awarded the Investors' Choice Awards in 2021, the APEX Corporate Sustainability Awards and the Greentech Environment Award in 2020.
AP OIL INTERNATIONAL LIMITED
AP Oil International Limited was founded in 1975 as a distributor of lubricants. It is an investment holding company established in Singapore. The business is divided into three segments: manufacturing comprises the production of lubricating oil and speciality chemicals for industrial, automotive, and marine uses, as well as the provision of oil mixing services and cleaning equipment rentals to customers. AP Oil International sells lubricants and specialty chemicals in over 20 countries, including Singapore, Indonesia, Malaysia, Thailand, Vietnam, China, and nations in the Middle East. AP Oil manufactures world-class lubricants that fulfill international standards and specifications as well as OEM requirements.
RH PETROGAS LIMITED
Founded in 1987, RH Petrogas Limited is a Singapore-based upstream oil and gas business that is listed on the Singapore Stock Exchange's mainboard. RHP and its subsidiaries engage in a wide variety of upstream activities, including oil and gas exploration, development, and production. Geographically, the group is concentrated in Asia. The current portfolio of the group consists of three upstream properties located in Indonesia, Vietnam, and Malaysia. The group and its partners are contractors to the host governments under the PSCs and assume the risk and cost of oil and gas resource exploration and production in exchange for a portion of the production.
PACC OFFSHORE SERVICES HOLDINGS LTD.
Incorporated in 2006, PACC Offshore Services Holdings ("POSH") is a major provider of offshore energy operations solutions. It provides specialised offshore marine solutions to upstream oil and gas and renewable energy operations in important markets across the world. Its services include towage and installation support, offshore accommodation, construction support, harbour towage, and turnkey project management. The company is headquartered in Singapore and operates globally, serving offshore oil fields in Asia, Africa, the Middle East, and Latin America, supplying boats and services for projects involving many of the world's leading oil companies, as well as many significant international offshore contractors.
SINGAPORE PETROLEUM COMPANY LIMITED
Singapore Petroleum (SPC), which was founded in 1969, is involved in oil and gas exploration and production, refining, terminalling, distribution, marketing, and trading of crude and refined petroleum products. SPC is a reliable provider of bunker fuel to international shipping companies in Singapore's port, as well as jet fuel to numerous international airports in the Asia-Pacific, notably Singapore Changi Airport. SPC also controls the third-largest island-wide retail network in Singapore, with 40 service stations providing excellent and dependable round-the-clock services to the driving public. SPC is headquartered in Singapore and has offices in China, Thailand, and Indonesia.
KAIROS OIL TRADING PTE. LTD.
Established in 2012, Kairos Oil Trading Pte Ltd is a Singapore-based trading company for oil and petroleum products. The company trades in crude, distillates, fuel oil, blend stocks, petrochemicals, and other specialty fuels on a global scale. Kairos has safe credit line resources from first-class international banks and is registered to trade with various national oil companies, oil majors, refineries, trading houses, and end-users across the global trading platform. With the creation of Malaysian, Hong Kong, and Australian companies, the company has expanded across the Asia-Pacific region.
OCEAN ENERGY PTE. LTD.
Ocean Energy Pte Ltd is an oil and gas merchant in Singapore and was founded in 2008. It focuses on sourcing, supplying, and trading commodities, ranging from crude to oil products and petrochemicals. It balances supply and demand through high-efficiency maritime transportation, leveraging industry expertise and substantial industrial oil experience. The business has touched 40 countries and regions in Asia, the Pacific, Europe, Africa, and America, sourcing and supplying specialised types of crude oil to fulfil the individual needs of each client. Recognising the significance of oil, the company engages in active trading in the PLATTS market, one of the primary pricing systems for oil commodity markets around the world.
CONCORD ENERGY PTE LTD
Founded in 1998, Concord Energy has developed to become one of Singapore and Southeast Asia's largest crude oil and refined product trading companies. Concord Energy Group, established in Singapore, is now a multibillion-dollar corporation that is constantly creating new areas of its business as it matures into an integrated, asset-based energy company. Concord Energy has deliberately positioned itself to play a major part in the global oil and gas supply chain by being involved in all essential stages of the trade cycle: energy commodity sourcing, transportation, storage, distribution, structured finance, and pricing risk management. It has several oil transactions in over 34 countries.
PETROSERAYA PTE. LTD.
PetroSeraya, founded in 2007, is the physical oil trading and tank leasing branch of YTL PowerSeraya Pte. Limited. PetroSeraya represents the completeness of the group's value chain—from sourcing fuel to trading and providing fuel-related services to clients—and is a key thrust of the group's diversification plan to enter into the non-regulated market. It manages and maintains the whole fuel-related assets of the Seraya Power Station to provide commercial oil terminal operations. Jetties, tank farms, pumps, and more than 50 kilometres of pipeline are among them.
SUCCESS BLOSSOM TRADING PTE. LTD.
The Success Blossom group of enterprises was founded in 2001 with a focus on bunkering and petroleum trade. With the group's main office in Singapore, branches were created in Malaysia, Thailand, and Vietnam over the years, to cater to expanding demand and better service its various customers in the area. The corporate group is made up of seven separate subsidiaries that operate in four different Southeast Asian nations. The company taps into the wide industry network through its branch offices located around the region to ensure that only outstanding products of specified standards are delivered at highly reasonable pricing.
Top Singapore SMEs in Oil & Gas Companies
VEGATRON PTE. LTD.
Vegatron Pte Ltd was established in 2021 and specialises in the distribution of petroleum and specialty lubricants. Vegatron is the next generation of oil and gas energy power systems. It owns a fleet of road tankers and trucks and offers high-quality diesel fuel to a wide range of customers in Singapore and Malaysia. Vegatron, also provides gasoline to consumers and follows government laws and regulations. Vegatron offers reasonable prices and some of the industry's longest B2B payment periods.
MEGA PETROLEUM INSPECTION PTE. LTD.
Mega Petroleum Inspection was founded in 2012, and it is headquartered in Singapore. It is a full-service provider of specialised inspection services to both domestic and international oil and gas corporations. Non-Destructive Testing (NDT) Inspection, Oil Country Tubular Goods Inspection & Maintenance, Hard banding, and Lifting Equipment & Gear Inspection are all part of its services. Mega Petroleum has two primary operations in Singapore and Myanmar. It expands strategically in additional regions to serve its clients in a wider range of locales. In 2019, the company was honoured with the Business Safe Award.
GREENCHEM TECHNOLOGY PTE LTD
Greenchem is an expert in hazardous waste handling firms. Founded in 1997, it provides comprehensive waste management services to the downstream oil, petrochemical, and specialty chemical industries in the region. Greenchem services include waste oil and speciality chemical collection, extraction, recycling, treatment, disposal, industrial services, and petroleum storage tank cleaning. The company rescues and utilises refined oil and solvents through a responsible recycling method, giving a financial advantage over pure disposal alternatives.
LIAN HOE LEONG & BROTHERS PTE. LTD.
The company, Lian Hoe Leong, was founded in 1962. It provides a diverse range of products ranging from automotive to lubricants, diesel fuels, and marine applications. Over the last six decades, the company has supplied petrochemical goods to the manufacturing, maritime, and transportation industries, with a long history of collaboration with reputable oil companies. It markets items from numerous companies for automotive, lubricants, diesel fuels, and marine uses, and also provides a full transportation solution across the logistics chain to ensure that products arrive safely and on time.
MING HUP TRADING PTE LTD
Established in 1979, Ming Hup Trading is a Singapore-based company that specialises in the approved distribution of petroleum and lubricant products from world-renowned oil companies such as ExxonMobil, Chevron, Idemitsu Lube, Singapore Petroleum Company, and Shell. Its petroleum products are delivered throughout the entire island from its office, warehouse, and distribution centres. The company provides expert, practical, and cost-effective petroleum solutions. Ming Hup Trading supplies to those in the construction, engineering, logistics, manufacturing, trading, F & B, services, oil and gas, maritime, and offshore industries. The company's supplies are continually refreshed with a comprehensive fleet of licensed logistics forces to assure high quality at all times.
LANDSEA TECHNICAL SERVICES PTE. LTD.
Landsea Group has been providing quality equipment to the oil and gas industry since 1982 and has expanded into the health and restoration industries. Furthermore, presence around the Asia-Pacific area - including China, Hong Kong, and Singapore - allow for your demands to be addressed with great simplicity and convenience. The company offers cased hole logging systems, open hole logging systems, perforating guns, NOV Mission Well Service Products, non-magnetic drillstring components, high-quality wire ropes to drilling companies, and high sensitivity, reliability, and stability dry cabinets to the healthcare industry. It delivers consistent and continuously evolving customer service in compliance with ISO 9001:2015 for both UKAS and SAC, given by Bureau Veritas.
PERFORMANCE OIL PTE LTD
Founded in 1990, Performance Oil has established itself as one of the region's major companies in the oil manufacturing industry. Its services are covered by strong after-sales service, ensuring that customers have an ongoing supply of engine oil. Its expertise includes gasoline engine oil and diesel engine oil, industrial lubricants, metalworking lubricants, marine lubricants, and base oil trading. Performance Oil has received the ISO 9001:2015 Certificate for Lubricant Blending and Packaging (inclusive of grease, hydraulic oils, and brake fluid). The company won the SMEs Asia Awards in Singapore in 2014 and 2015.
FORTRESS INTELLIGENCE PTE. LTD.
Fortress Intelligence is in the oil and gas business with over 35 years of experience. The company specialises in worldwide human resource management, project support services, the sourcing and supply of oil and gas equipment, vessels, goods, and maritime and security personnel, and training for the oil and gas industries. It is involved in the production of crude oil, natural gas, petroleum, chemicals, and D2 diesel. Fortress Intelligence provides onshore and offshore marine security services, as well as specialist training programs for marine security employees. Fortress Intelligence is headquartered in Singapore and has branches in the Asian region.
ASIA OFFSHORE SOLUTIONS PTE. LTD.
Asia Offshore (AOS), which was founded in 2012, is a Singapore-registered firm that sells reasonably priced, high-quality items through direct worldwide sourcing. It is a specialised oilfield supply firm that assists its clients in locating the most competitive goods that suit their operating objectives. AOS Offshore is a major supplier to the offshore oil and gas industry, offering Rig Activation Services for maritime, drilling, and auxiliary equipment, marine equipment for mooring systems, heavy lifting slings made of Dyneema for all lifting applications, and Certified Manufacturers' Pneumatic Fenders and Equipment Rental Packages.
INTERION PTE LTD
Interion Pte Ltd was founded in 1995. Interion is an authorised dealer for several oil majors as well as the exclusive distributor for two chemical brands. Beyond diesel, the product line has expanded to include lubricants, chemicals, and, most recently, AdBlue solution. Interion has gained considerable expertise working with a wide range of customer requirements from industries such as logistics, construction, shipping, transportation, power production, and food processing over the years. Interion is continually evolving in order to better serve its local and regional consumers. For the Industrial Lubricants area, it has a diverse product line that includes synthetic base fluids, low foaming emulsifiers, components, and lubricant additives.
Top Singapore Fastest growing companies in Oil & Gas
CHENIERE MARKETING PTE. LTD.
Cheniere Energy was established in 1996 as an oil and gas exploration company. It generates electricity from liquefied natural gas, or LNG. The company has reached dozens of markets across five continents, and demand for its fuel is likely to rise as countries worldwide seek cleaner methods to power their economies. It is headquartered in Texas, USA, with a presence in London, Singapore, Washington, Beijing, and Tokyo. Cheniere Energy buys natural gas from the robust, transparent, and liquid North American gas market, converts it into LNG, and provides its clients with the option of loading the LNG into their boats at terminals or having the LNG sent to regasification facilities throughout the world. The majority of its output has been sold on long-term, multi-decade contracts to creditworthy customers, with the remainder sold via marketing affiliates.
EXCELLENCE LOGGING PTE. LTD.
Excellence Logging is an oilfield services firm that specialises in providing customers with sophisticated geology, surface formation evaluation, drilling monitoring, and light well intervention services. Excellence Logging was founded in 2015. The company benefits from a seasoned management team, cutting-edge research and engineering capabilities, and a collaborative approach to satisfying customers. Excellence Logging’s activities include the production of mud logging units, as well as the supply of mud logging services, formation evaluation, and well site consultancy services to the oil, gas, and geothermal industries. The company operates in over 35 countries. The company's Geosteering team was named a finalist for a 2018 oil and gas award.
GATE ENERGY PTE. LTD.
Since its inception in 2000, GATE Energy has offered scalable, purpose-built energy services such as engineering, commissioning, and specialized field services. The group is made up of three companies: GATE Energy, Viking Engineering, and BlueFin. The company works on discrete process or corrosion issues. Adopting a broader picture of the relationships and complexity of the system as a whole allows them to produce an optimum solution that spans multiple disciplines and boundaries. It has a foreign presence in Singapore and South Korea. In 2018, GATE Energy received the Culture of Safety Award for its leadership and safety culture.
PRAX PTE. LTD.
Incorporated in 1999, The Prax Group is an independent international oil refining, storage, distribution, and sales company based in London that deals in crude oil, petroleum products, and biofuels. The group's headquarters are in Singapore and Houston. It also has offices in Belgium, China, the Netherlands, India, Nigeria, Saudi Arabia, and Sri Lanka. The Prax brand is used in its midstream and upstream operations, which include refining and blending. The Prax Group refines and blends physical oil to regional, market, and customer specifications. It provides efficient, safe, and high-quality logistics by transporting oil via barge, truck, rail, pipeline, and vessel in support of its core activities as well as for third parties.
RUDDER PTE. LTD.
Rudder is an oil trading company that specialises in bunker products. The corporation is based in Monaco and has offices in Singapore. Rudder functions as the principle and collaborates with hundreds of well-selected and dependable physical bunker providers throughout the world. It has a presence in Europe, South America, and the Far East. Its clients also include physical suppliers, big trading houses, cruise and container vessel operators, and unique vessels for the offshore oil and gas industry, which have highly specific operational limits that necessitate careful planning and close monitoring.
BGN INT PTE. LTD.
Incorporated in 2017, BGN International is an energy firm that trades, stores, and transports petroleum, petrochemical products, and other commodities. BGN is one of the world's top LPG suppliers, with hubs in Dubai, Geneva, Singapore, and Houston. It has a diverse global customer base, including national and multinational oil firms, as well as prominent industrial and petrochemical enterprises. As a leading energy corporation, the company's operations encompass efficient trading, storage, and transportation of petroleum, petrochemical products, and commodities around the world. Its most essential asset is the calibre of its team, which includes experts in trade, finance, operations, and logistics.
SAZ OILFIELD SERVICES PTE. LTD.
SAZ is a firm specialising in downhole completions, sand management, and artificial lift systems. SAZ is a privately held corporation based in Houston, USA. SAZ products are distributed through exclusive agreements with local and regional oilfield service companies. Through its long-term production contract with ISO and API-certified OEMs in India, the company provides cost-effective and dependable completion products with timely delivery. SAZ's exclusive premium sand screen design allows for local assembly of screens and ICDs, offering clients greater local content and an efficient supply chain. SAZ has formed joint venture partnerships with premier technological businesses, especially from North America, in order to provide innovative solutions that go beyond well completions.
PETROFAC SOUTH EAST ASIA PTE. LTD.
Petrofac was incorporated in 1981 as a producer of modular plants headquartered in Texas, USA. With 41 years of experience in design, engineering, procurement, and construction, as well as a decade of offshore wind expertise, the company works for some of the world's largest national and international energy firms. Petrofac designs and builds world-class gas processing plants and clean fuel refineries, as well as offshore wind substations, hydrogen units, and infrastructure upgrades to meet the most recent global environmental standards. Its engineering centres are in the United Kingdom, India, and the Middle East, to drive a comprehensive design process for large-scale EPC projects.
PROMOR PTE. LTD.
Promor is a Singapore-based company that has established itself as a completely independent provider of services to the oil and gas offshore industry, including FPSOs and FSOs. The Promor staff has over 50 years of experience and a proven track record of providing complete engineering services for both FPSOs and FSOs, including utility systems, internal and external turret moorings, dis-connectable turret moorings, fluid swivel technology, off-loading systems, and riser and subsea systems. Promor specialises in generating and developing novel products and services, such as FEED Studies, Topsides Integration, Marine Systems, Structural Upgrades, High-Capacity Bearing Systems, Multipath Fluid Swivels, Chain Stoppers, and Mechanical Components.
REPSOL TRADING SINGAPORE PTE. LTD.
Established in 1972, Repsol is an energy business, active across the whole value chain, from exploration and production to transformation, development, and commercialisation of efficient, sustainable, and competitive energy. Repsol is a company that markets and trades natural gas, crude oil, and other products. It has also been selling lubricants for motorcycles and the industrial sector for over ten years. It has one of the most efficient refining systems on the continent, capable of converting crude oil and other alternative raw materials into value-added goods. Repsol is a multi energy supplier that works with a multidisciplinary workforce of 79 nationalities to accelerate the transition to a low-emissions energy economy.
