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Ministry of Energy, Trade and Industry
1. Press releases

Singapore and the Kingdom of Saudi Arabia announce joint intent to establish a crude oil storage arrangement in Singapore

26 October 2026

Singapore’s Ministry of Energy, Trade and Industry and the Kingdom of Saudi Arabia’s Ministry of Energy today announced their joint intent to establish a crude oil storage arrangement in Singapore. To mark this occasion, Singapore’s Energy Market Authority and JTC Corporation exchanged a Memorandum of Understanding with the Saudi Arabian Oil Company at the Singapore International Energy Week (SIEW), as a first step towards realising this arrangement.

Download the full press release [PDF, 94.65 KB] (opens in new tab)

MINISTRY OF ENERGY, TRADE AND INDUSTRY
26 OCTOBER 2026