Singapore Oil and Gas Report Q2 2016

Singapore Oil and Gas Report Q2 2016

BMI View: Singapore will remain a large net importer of crude oil over the next decade, to satiate demand from its large and sophisticated refining sector. This will maintain Singapore's status as a major refining and petrochemicals hub in the region, though the country will face intensifying competition from downstream expansions in the Asian emerging markets. The country will continue to punch above its weight in terms of gas imports, gradually moving away from pipeline gas in favour of LNG, for both domestic use and re-exporting purposes.

Latest Updates and

Key Forecasts

The Singapore Exchange (SGX) launched futures and swaps on the country's new LNG price index in January 2016 and is working to build up greater liquidity.

Singapore will remain wholly dependent on crude oil and natural gas imports, as the country does not have any proven hydrocarbon reserves.

The majority of its crude oil imports will continue to come from the Middle East, though moves to diversify its import sources could open up more trading opportunities for suppliers in Asia Pacific, West Africa and Latin America. In fact, the share of crude cargoes originating from Asia in Singapore's total crude import mix increased from 6.0% in 2013 to 11.0% in 2014.

Singapore will gradually move away from pipeline gas imports over the course of the next 10 years, in favour of LNG. Our forecasts show that LNG imports will overtake pipeline gas imports by 2019.

While residual fuel oil will continue to comprise the bulk of Singapore's refined fuels demand, stricter environmental laws in the marine sector will weigh on long-term demand for the fuel. As the shift towards cleaner marine fuels (consumption of which is captured in our distillate fuel oil data) accelerates, the share of residual fuel oil is set to decrease from 75.0% in 2016 to 66.5% in 2025.

BMI Industry View
Table: Headline Forecasts (Singapore 2014-2020)
Oil & Gas SWOT
Industry Forecast
Upstream Production - Oil
Latest Updates
Structural Trends
Table: Oil Production (Singapore 2014-2019)
Table: Oil Production (Singapore 2020-2025)
Latest Updates
Structural Trends
Table: Refining Capacity and Refined Products Production (Singapore 2014-2019)
Table: Refining Capacity and Refined Products Production (Singapore 2020-2025)
Refined Fuels Consumption
Latest Updates
Structural Trends
Table: Refined Products Consumption* (Singapore 2014-2019)
Table: Refined Products Consumption* (Singapore 2020-2025)
Gas Consumption
Latest Updates
Structural Trends
Table: Gas Consumption (Singapore 2014-2019)
Table: Gas Consumption (Singapore 2020-2025)
Trade - Oil
Crude Oil Trade
Latest Updates
Structural Trends
Table: Crude Oil Net Exports (Singapore 2014-2019)
Table: Crude Oil Net Exports (Singapore 2020-2025)
Fuels Trade
Latest Updates
Structural Trends
Table: Refined Fuels Net Exports (Singapore 2014-2019)
Table: Refined Fuels Net Exports (Singapore 2020-2025)
Trade - Gas (Pipeline and LNG)
Latest Updates
Structural Trends
Table: Singapore's Existing Pipeline Gas Contracts
Table: Gas Net Exports (Singapore 2014-2019)
Table: Gas Net Exports (Singapore 2020-2025)
Oil & Gas Risk/Reward Index
Asia - Oil & Gas Risk/Reward Index
Upstream Risk/Reward Index: Persistent Oil Price Weakness Underpins Bearish Outlook
Table: Asia: Upstream Risk/Reward Index
Downstream Risk/Reward Index: Projection For Weaker Economic Growth Undermines India's Scores
Table: Asia: Downstream Risk/Reward Index
Singapore - Risk/Reward Index
Singapore Upstream Index - Overview
Singapore Downstream Index - Rewards
Singapore Downstream Index - Risks
Market Overview
Singapore Energy Market Overview
Regulatory Structure
Fiscal Regime
Table: Singapore - Key Taxes
Licensing Regime
Regional LNG Trading Hub
Oil And Gas Infrastructure
Oil Refineries
Table: Oil Refineries In Singapore
Service Stations
Oil Terminals/Storage Facilities
Table: Commercial Crude Oil Storage Terminals In Singapore
LPG Terminal
LNG Terminals
Table: LNG Terminals In Singapore
Competitive Landscape
Competitive Landscape Summary
Table: Key Players - Singapore Oil & Gas Sector
Table: Key Downstream Players
Company Profile
ExxonMobil Singapore
Royal Dutch Shell
Singapore Petroleum Company (SPC)
Other Summaries
Regional Overview
Industry Trend Analysis
Table: Glossary Of Terms
Industry Forecast Methodology
Risk/Reward Index Methodology
Table: Bmi's Oil & Gas Upstream Risk/Reward Index
Table: Weighting

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