Singapore Petroleum Company
Encyclopedia
Singapore
Singapore , officially the Republic of Singapore, is a Southeast Asian city-state off the southern tip of the Malay Peninsula, north of the equator. An island country made up of 63 islands, it is separated from Malaysia by the Straits of Johor to its north and from Indonesia's Riau Islands by the...
an oil
Oil
An oil is any substance that is liquid at ambient temperatures and does not mix with water but may mix with other oils and organic solvents. This general definition includes vegetable oils, volatile essential oils, petrochemical oils, and synthetic oils....
company. SPC is involved in the exploration and production of petroleum
Petroleum
Petroleum or crude oil is a naturally occurring, flammable liquid consisting of a complex mixture of hydrocarbons of various molecular weights and other liquid organic compounds, that are found in geologic formations beneath the Earth's surface. Petroleum is recovered mostly through oil drilling...
, refining
Refining
Refining is the process of purification of a substance or a form. The term is usually used of a natural resource that is almost in a usable form, but which is more useful in its pure form. For instance, most types of natural petroleum will burn straight from the ground, but it will burn poorly...
, trading
Trade
Trade is the transfer of ownership of goods and services from one person or entity to another. Trade is sometimes loosely called commerce or financial transaction or barter. A network that allows trade is called a market. The original form of trade was barter, the direct exchange of goods and...
and petroleum product distribution.
History
The company was founded in 1969 as the Singapore Petroleum & Chemical Co. Pte Ltd and later changed its name to the Singapore Petroleum Company Ltd. The company is also a part owner of Singapore Refining Company Pte Ltd which was founded in 1979.Exploration and Production
SPC's presence and profile in the regional E&P sector has grown with the acquisition of assets over the years. These assets include Block B in CambodiaCambodia
Cambodia , officially known as the Kingdom of Cambodia, is a country located in the southern portion of the Indochina Peninsula in Southeast Asia...
, the Kakap Production Sharing Contract (PSC) and the Sampang PSC in Indonesia
Indonesia
Indonesia , officially the Republic of Indonesia , is a country in Southeast Asia and Oceania. Indonesia is an archipelago comprising approximately 13,000 islands. It has 33 provinces with over 238 million people, and is the world's fourth most populous country. Indonesia is a republic, with an...
, Blocks 102 and 106, and Block 101-100/04 in Vietnam
Vietnam
Vietnam – sometimes spelled Viet Nam , officially the Socialist Republic of Vietnam – is the easternmost country on the Indochina Peninsula in Southeast Asia. It is bordered by China to the north, Laos to the northwest, Cambodia to the southwest, and the South China Sea –...
, Block T06-3 in Australia
Australia
Australia , officially the Commonwealth of Australia, is a country in the Southern Hemisphere comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands in the Indian and Pacific Oceans. It is the world's sixth-largest country by total area...
. In 2007, they expanded their assets to China with 3 additional blocks, 04/36 & 05/36 in Bohai Bay and Blk 26/28, offshore China.
In the pipeline business, SPC holds interests in three regional gas transmission pipelines. The 654-kilometre West Natuna Transportation System is the first Singapore cross border sub-sea gas pipeline carrying gas from the West Natuna Sea to Singapore. A consortium of PSC blocks in West Natuna including the Kakap PSC owns this pipeline.
The 468-kilometre Grissik-Batam-Singapore Pipeline is the second direct gas pipeline transmitting gas from Indonesia to Singapore. Gas to Singapore commenced in 2003 under a 20-year term contract between Singapore and Indonesia. The 536-kilometre Grissik-Duri Pipeline is a trunk line that transmit gas from the Grissik gas fields to Caltex's Duri facilities under long term contracts that commenced in 1998.
Refining
SPC, with equal partner CaltexCaltex
Caltex is a petroleum brand name of Chevron Corporation used in more than 60 countries in the Asia-Pacific region, the Middle East, and southern Africa.-History:...
(part of Chevron Corporation
Chevron Corporation
Chevron Corporation is an American multinational energy corporation headquartered in San Ramon, California, United States and active in more than 180 countries. It is engaged in every aspect of the oil, gas, and geothermal energy industries, including exploration and production; refining,...
), owns half of the 285000 oilbbl/d Singapore Refining Company (SRC) plant, a complex refinery
Oil refinery
An oil refinery or petroleum refinery is an industrial process plant where crude oil is processed and refined into more useful petroleum products, such as gasoline, diesel fuel, asphalt base, heating oil, kerosene, and liquefied petroleum gas...
capable of cracking crude oil.
The refining of crude oil to petroleum products remains central to the Group’s operations. Given the complexity of its refining facilities, SPC is able to refine heavy, medium and light crudes. SPC buys crudes from some 13 countries with the bulk of its supplies coming from the Middle East
Middle East
The Middle East is a region that encompasses Western Asia and Northern Africa. It is often used as a synonym for Near East, in opposition to Far East...
. The API gravity of these crudes range from 18 (mostly heavy/sour crude) to 45 (mostly light/sweet crudes). In 2006, the Group processed more than 51 Moilbbl of crudes through SRC, its jointly-owned refinery on Jurong Island
Jurong Island
Jurong Island is an artificial island located to the southwest of the main island of Singapore, off Jurong Industrial Estate. It was formed from the amalgamation of seven offshore islands, the islands of Pulau Ayer Chawan, Pulau Ayer Merbau, Pulau Merlimau, Pulau Pesek, Pulau Pesek Kechil , Pulau...
.
Supply
The Company owns a storage terminal for petroleum products at Pulau Sebarok to support its marine bunker operations and trading and marketing activities. The 220,000 cubic metres terminal consisting of 13 tanks is equipped with a deepwater jetty up to 160,000 tonnes displacement.Trading
The trading unit actively trades in a variety of distillate and residual products which include NaphthaNaphtha
Naphtha normally refers to a number of different flammable liquid mixtures of hydrocarbons, i.e., a component of natural gas condensate or a distillation product from petroleum, coal tar or peat boiling in a certain range and containing certain hydrocarbons. It is a broad term covering among the...
, Gasoline
Gasoline
Gasoline , or petrol , is a toxic, translucent, petroleum-derived liquid that is primarily used as a fuel in internal combustion engines. It consists mostly of organic compounds obtained by the fractional distillation of petroleum, enhanced with a variety of additives. Some gasolines also contain...
, Automotive Diesel Oil, Jet Fuel
Jet fuel
Jet fuel is a type of aviation fuel designed for use in aircraft powered by gas-turbine engines. It is clear to straw-colored in appearance. The most commonly used fuels for commercial aviation are Jet A and Jet A-1 which are produced to a standardized international specification...
and Fuel Oil
Fuel oil
Fuel oil is a fraction obtained from petroleum distillation, either as a distillate or a residue. Broadly speaking, fuel oil is any liquid petroleum product that is burned in a furnace or boiler for the generation of heat or used in an engine for the generation of power, except oils having a flash...
.
The Aviation Sales unit markets and supplies aviation fuel to airlines at four international airports in Singapore, Hong Kong
Hong Kong
Hong Kong is one of two Special Administrative Regions of the People's Republic of China , the other being Macau. A city-state situated on China's south coast and enclosed by the Pearl River Delta and South China Sea, it is renowned for its expansive skyline and deep natural harbour...
, Bangkok
Bangkok
Bangkok is the capital and largest urban area city in Thailand. It is known in Thai as Krung Thep Maha Nakhon or simply Krung Thep , meaning "city of angels." The full name of Bangkok is Krung Thep Mahanakhon Amon Rattanakosin Mahintharayutthaya Mahadilok Phop Noppharat Ratchathani Burirom...
, and Taipei
Taipei
Taipei City is the capital of the Republic of China and the central city of the largest metropolitan area of Taiwan. Situated at the northern tip of the island, Taipei is located on the Tamsui River, and is about 25 km southwest of Keelung, its port on the Pacific Ocean...
. SPC is reputed as a reliable supplier of quality aviation fuel in the Asia-Pacific region with more than 30 years of aviation fuel sales and marketing expertise.
The Distillates unit is responsible for the sales and trading of naphtha, motor gasoline (petrol), gasoil (diesel) and jet fuel (kerosene).
The Residue unit is responsible for fuel oil trading and marine sales activities. Fuel oil of various specifications, including standard bunker grades, is sourced directly from SRC as well as from the Group’s extensive network of global oil traders. The unit utilises its operational expertise, storage facilities and trading network to build and maintain SPC’s reputation as a fuel oil and bunker player with a premium brand in the Singapore market.
In 2006, more than 74.1 Moilbbl of crude and refined petroleum products were handled in these downstream product channels. Of this volume, slightly more than 50 Moilbbl were products sourced directly from SRC with the balance of more than 24 Moilbbl sourced from the Group’s extensive network of oil majors, multinational oil traders and national oil companies.
Marketing
Marketing BU is organised into five key units, namely Market Development and New Ventures, Retail Sales andDevelopment, Commercial Sales, Lubricant Sales, and Operations and Logistics.
Retail Sales and Development include a network of 39 service stations
Filling station
A filling station, also known as a fueling station, garage, gasbar , gas station , petrol bunk , petrol pump , petrol garage, petrol kiosk , petrol station "'servo"' in Australia or service station, is a facility which sells fuel and lubricants...
in Singapore, 28 of which were taken over from BP
BP
BP p.l.c. is a global oil and gas company headquartered in London, United Kingdom. It is the third-largest energy company and fourth-largest company in the world measured by revenues and one of the six oil and gas "supermajors"...
when BP was exiting the retail business in Asia.
The Commercial Sales and Lubricant Sales units market petroleum products, special products and lubricants to commercial, industrial and wholesale markets domestically and regionally. These include Naphtha, Liquefied Petroleum Gas, Motor Gasoline, Industrial Diesel/Automotive Diesel Oil, Sulphur and Asphalt
Asphalt
Asphalt or , also known as bitumen, is a sticky, black and highly viscous liquid or semi-solid that is present in most crude petroleums and in some natural deposits, it is a substance classed as a pitch...
.
Financial
Singapore Petroleum Company or SPC was delisted from the Singapore Exchange on 22 Oct 2009 when Chinese oil giant PetroChina completed its takeover of the Singapore firm.Source :
http://www.channelnewsasia.com/stories/singaporebusinessnews/view/1012767/1/.html
http://www.spc.com.sg/attachments/2009/SQ0W7N08Z475OK2T0BARRT5ZFWPQ8Q.pdf