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The Platts assessment process determines the value of physical commodities 15–30 days forward for many oil products loading in Singapore. [1]MOPS is an acronym that stands for the Mean of Platts Singapore, and typically refers to any contract mechanism that derives its value by referencing the average of a set of Singapore-based oil price assessments published by Platts.
While prices have come down since the peak in June, prices were beginning to tick up again. Gas prices hit $3.79 a gallon the week of September 29, 2022, up from $3.73 on September 23, 2022 — an increase of $0.06 per gallon over the last week. [15] Since October 10, 2022, the price of gasoline has gone down again.
Oil Price Information Service (OPIS) is a price reporting agency which provides information that is used for commercial contracts and trade settlement related to petroleum, gasoline, diesel, ethanol, biodiesel, LP-gas, jet fuel, crude, natural gas, petrochemicals, recycled plastics, refinery feedstocks, residual fuel, and kerosene. [1][2] It is ...
The oil prices were seen rising to hit $71.38 per barrel in March 2021, marking the highest since the beginning of the pandemic in January 2020. [116] The oil price rise followed a missile drone attack on Saudi Arabia's Aramco oil facility by Yemen’s Houthi rebels. [117] The United States said it was committed to defending Saudi Arabia. [118]
Diesel costs 8.79 ringgit ($1.86) a liter in neighboring Singapore and more than 4 ringgit ($0.86) in most other regional countries. It is heavily subsidized at 1.09 ringgit ($0.23) in oil-rich Brunei
The company is also a part owner of Singapore Refining Company Pte Ltd which was founded in 1979. [2] In 2004, SPC acquired 50% of BP's interest in the SRC and BP's retail network of 28 stations and LPG business in Singapore. [2] In 2009, SPC was acquired by China's PetroChina from Keppel Corporation and was delisted from the Singapore Stock ...
The petroleum industry in Singapore is accountable for part of the country's economy, exporting about 68,100,000 tonnes (67,000,000 long tons; 75,100,000 short tons) of oil (as of 2007). Singapore is dubbed "the undisputed oil hub in Asia ."
In 2021, Singapore's oil supply totaled 1,027,948 terajoules, a 42% increase from 2000, comprising both crude and refined products, net of exports and storage. Oil constituted 69.7% of the total energy supply. [8] All of Singapore's crude oil was imported, with imports growing by 13% since 2000. Oil products imports surged to 208.8% of total ...