Saudi Arabia to store crude oil in Singapore from 2027

FinanceInternationalInspenetOct 26, 2026, 10:45 AM35 s readAI summary

Saudi Arabia and Singapore are moving forward with an agreement to store Saudi crude at the Jurong Rock Caverns, underground caverns on Jurong Island. Singapore's Energy Market Authority and JTC Corporation exchanged a memorandum of understanding with Saudi Aramco during Singapore International Energy Week 2026. Operations are expected in the second half of 2027 and aim to strengthen Singapore's energy security and the flexibility of Saudi supply in Southeast Asia.

In 35 seconds

The memorandum of understanding was signed by Singapore's Energy Market Authority, JTC Corporation and Saudi Aramco.
The crude would be stored at the Jurong Rock Caverns, about 150 metres deep and with a capacity of roughly 1.47 million cubic metres.
Operations are scheduled to begin in the second half of 2027.

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IASummary generated by artificial intelligence from a story by Inspenet. It may contain errors: the original source prevails.

petróleo
Saudi Aramco
Singapur
Arabia Saudita
seguridad energética

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Saudi Arabia to store crude oil in Singapore from 2027

In 35 seconds

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