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Shell raises oil storage capacity at Singapore Bukom refinery

June 07/2019

MOSCOW (MRC) -- Royal Dutch Shell has increased the storage capacity at its Bukom refinery in Singapore by nearly 1.3 million barrels by building two crude oil tanks, reported Reuters with reference to the company's statement.

Shell said the project was part of its ongoing effort to improve competitiveness by investing in storage and logistics at its core refineries.

"This project positions Shell to capture stronger margins and better manage market volatility over the coming years," said Robin Mooldijk, executive vice president for manufacturing at Shell, in a statement.

"These new facilities enable us to buy more oil when market conditions are attractive," he added.

The Pulau Bukom manufacturing site is an integrated refinery and chemicals site and can process up to 500,000 barrels per day of oil.

Singapore is Shells largest petrochemical production and export centre in the Asia-Pacific region.

The company added that demand for some oil products, including diesel, jet fuel and bitumen, is expected to increase over the next two decades as population grows and more people achieve a higher standard of living.

As MRC wrote previously, in May 2018. China National Offshore Oil Corporation (CNOOC) and Shell Nanhai B.V. (Shell) announced the official start-up of the second ethylene cracker at their Nanhai petrochemicals complex in Huizhou, Guangdong Province, China.

Royal Dutch Shell plc is incorporated in England and Wales, has its headquarters in The Hague and is listed on the London, Amsterdam, and New York stock exchanges. Shell companies have operations in more than 70 countries and territories with businesses including oil and gas exploration and production; production and marketing of liquefied natural gas and gas to liquids; manufacturing, marketing and shipping of oil products and chemicals and renewable energy projects.
Author:Margaret Volkova
Tags:crude and gaz condensate, propylene, ethylene, petrochemistry, Shell, China, Singapore.
Category:General News
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