SPC to step up investments in search of growth

Singapore Petroleum Company (SPC) and partner Chevron expects to finalize another clean fuels plant investment within the next six months, which will potentially cost up to US$200 million. Further down the road, they are also considering a coker plant, which will be the Singapore refining industry’s first, to upgrade heavy fuel oil into more valuable products like gasoline and diesel fuel. The company is trying to improve the competitiveness and capability of the 285,000 barrels per day Singapore Refining Company (SRC) refinery, even as it focuses more on growing its upstream exploration and production (E&P) activities to become a more integrated oil and gas company. (September 12, 2007)