Fast Facts: Energy

Facts and figures on the energy and oil industry in Singapore.

Pole Position in Asia's Energy Market

 

  • The oil industry has been an integral part of Singapore’s economy, ever since oil trading activities started in 1891.
  • Singapore is the undisputed oil hub in Asia and is one of the world’s top three export refining centres.
  • The focus has been to kick-start bio-diesel production and to develop next-generation technological capabilities in harnessing renewables.
  • In November 2007, the Singapore Government launched the National Energy Policy Report. Titled “Energy for Growth”, the report outlined a holistic national energy policy framework that balances the four policy objectives of economic competitiveness, energy security, environmental sustainability, and industry development.
  • Sector contributed almost 5% of Singapore’s GDP   
  • Singapore’s experience and capabilities in the semiconductor, industrial equipment and chemicals sectors place the country in good stead to capture opportunities in the solar, fuel cells and biofuels markets.
  • Singapore is a strong base in the region for R&D.
  • Singapore offers extensive oil storage facilities on Jurong Island

 

Facts & figures have been compiled from various sources

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