Oiltanking, SRC launch Singapore oil pipelines

Storage operator Oiltanking GmbH and Singapore Refining Co. (SRC) have commissioned pipelines in Singapore’s Jurong Island to pump gasoline and diesel directly into tanks. The move would help traders cut handling costs, analysts said. This would also give Oiltanking Singapore, a joint venture between Oiltanking and London, U.K.-based 3i Infrastructure P.L.C. an edge in providing more efficient clean product storage services to customers. With the launch, Oiltanking would have pipes linking to two of the three refineries in oil hub Singapore, the other being Royal Dutch Shell P.L.C.’s Pulau Bukom plant, where pipelines were built ten years ago. Pipelines would help trading firms using storages at Oiltanking to reduce costs of moving fuel via ships from the SRC refinery into tanks, reports noted. (July 2, 2009)