NewzSaudi Arabia intends to establish a crude oil storage facility in Singapore starting in the second half of 2027. The project is being facilitated through a memorandum of understanding exchanged between Singapore’s Energy Market Authority, JTC Corp., and Saudi Arabian representatives.
The initiative is designed to bolster Saudi Arabia’s supply chain logistics within the Southeast Asian region. Additionally, the arrangement is intended to contribute to Singapore’s energy security by maintaining local reserves of crude oil.
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