What do oil and gas companies do in Singapore?
The oil and gas companies in Singapore have been involved in all stages of the petroleum industry worldwide, but mostly in Asia and Australia. They look for and produce petroleum as well as transport, refine and market petroleum and petroleum products.
What are the 3 types of oil and gas companies in Singapore?
The oil and gas companies in Singapore are categorized into three main segments: upstream, midstream, and downstream.
Upstream
Upstream businesses contain firms concerned with the exploration and production of oil and gas. These are the firms that explore the planet for stores of the raw materials then drill to extract that material. These firms are often mentioned as “EvàP” for “exploration and production.”
The upstream segment is defined by high risks, high investment capital, extended duration because it requires a long time to locate and drill, also as being technologically intensive. Essentially, all income and earnings report line items of EvàP companies are directly connected with oil and gas production.
Midstream
Among oil and gas companies in Singapore, midstream businesses are people who are concerned about transportation. They’re those liable for moving the extracted raw materials to refining factories to process the oil and gas.
Midstream companies are described as shipping, trucking, pipelines, and storing of the raw materials. The midstream segment is also characterized by high regulation, particularly on pipeline transmission, and low capital risk. The segment is additionally naturally hooked into the success of upstream firms.
Downstream
Downstream businesses are the refineries. These are the businesses liable for removing impurities and converting the oil and gas to products for the overall public, like gasoline, jet fuel, fuel oil, and asphalt.
How do oil and gas companies make Money in Singapore?
It can be seen that oil service firms make money when the high demand for petroleum is driving exploration and production.
On the midstream and downstream, oil service firms see regular income which will see them through dips in upstream activity, but it’s the upstream activity that’s an enormous driver of revenue. This is often because they need new business coming in and new projects to bid on.
Who are the top 5 oil and gas companies in Singapore?
Trafigura
Trafigura Group Pte. Ltd. is a Singaporean multinational commodity trading company founded in 1993 that trades in base metals and energy.
At Trafigura, physical commodities are sourced, stored, blended, and delivered reliably, efficiently, and responsibly anywhere within the world. The corporation also values the worldwide trade of natural resources with exceptional service and performance across the availability chain.
In an increasingly competitive marketplace, being able to respond swiftly to shift patterns of demand may be a key differentiator. Trafigura ensures they have the resources and agility to create long-term value with their customers in fast-changing markets.
Year established: 1996
Revenue: US$147 billion (FY2020)
Puma Energy is one of the biggest oil and gas companies in Singapore
At Puma Energy, their purpose is to ‘energize communities’ and to assist drive growth and prosperity by sustainably serving their customers’ energy needs in countries around the world. To the present end, Puma Energy focuses their business around their customers – doing everything they will assist them. The company does that passionately and responsibly, day in, outing across the world.
Puma Energy
In a world of rapid change, Puma Energy’s values are their constant guide. They get to the guts of their way of ‘energizing communities’ around the world. Their diverse people are united by their culture and values, and by their shared commitment to doing things the proper way.
Founded year: 2011
Revenue: >100M
City Gas
City Gas is the producer and retailer of piped coal gas in Singapore. They produce and supply coal gas to residential, commercial, and industrial customers islandwide.
City Gas
City Gas also retails gas to commercial and industrial customers in Singapore, through City-OG Gas Energy Services Pte Ltd (City-OG), a joint business venture between City Gas and Osaka Gas. Combining the simplest of City Gas’s rich experience and Osaka Gas’s leading-edge technologies, the joint business venture delivers a comprehensive range of energy service solutions that optimize energy efficiency for max energy output, at minimal costs.
City Gas provides a one-stop service for their customers to get access to coal gas in Singapore. The corporation works closely with PowerGas, which owns the gas pipeline network, to make sure the graceful delivery of gas services to their customers.
Founded year: 2001
PetroSeraya
Established on 2 April 2007, PetroSeraya Pte. Ltd is the physical oil trading and tank leasing arm of YTL PowerSeraya Pte. Limited. With a well-integrated terminal configured for cargo and bunkers trading, PetroSeraya also has the operational efficiency and terminal flexibility to accommodate vessels that include Suezmax tankers.
PetroSeraya offers commercial oil terminal operations by managing and maintaining the whole fuel-related assets of the Pulau Seraya power plant. Besides, the corporation plays a key role in managing the Group’s fuel purchases which constitutes a part of the facility generation cost. Through direct sourcing and its bulk purchases, it’s more likely to secure better prices and achieve greater economies of scale.
Founded year: 2007
Revenue: 10M-100M
Singapore Petroleum Company
Founded in 1969, SPC has interests in oil and gas exploration and production, refining, terminalling and distribution, marketing, and trading of crude and refined petroleum products.
To strongly uphold the core values of “Integrity, Initiative, Safety, and Harmony”, SPC regularly reviews its corporate governance processes to conduct business professionally, ethically and safely, thus delivering excellent value to customers. SPC is committed to repeatedly look after people and therefore the environment by supporting community activities and providing more environmentally friendly products.
Founded year: 1969
Revenue: >100M
Conclusion
Singapore has become one of the foremost important shipping centers in Asia and is usually listed together with the world’s top three oil trading and refining hubs. Output from the oil and gas and petrochemical industries here in recent years was valued at US$60 billion but it’s expected to decrease thanks to fluctuating oil prices, unexpected diseases, and global geopolitical issues. The changing landscape of the industry would require oil and gas companies in Singapore to take a position heavily in new technologies including digitization which will enable them to raise, define and develop promising reservoirs while sustaining production for mature fields. Also, technologies that cater to industries that deal in chemical engineering systems, LNG equipment, oil and gas processing equipment, and pipeline engineering are expected to be the best prospects within the years ahead.
