Riyadh, October 26, 2026 : Saudi Arabia and Singapore have announced plans to establish a crude oil storage arrangement in Singapore to strengthen energy security and improve supply chain resilience in Southeast Asia.
According to the Saudi Press Agency (SPA), Singapore’s Energy Market Authority and JTC Corporation exchanged a memorandum of understanding with Saudi Aramco during Singapore International Energy Week (SIEW), marking an initial step towards implementing the arrangement.
Under the proposed plan, Saudi crude oil will be stored at the Jurong Rock Caverns on Singapore’s Jurong Island, with operations expected to begin in the second half of 2027.
The stored reserves are intended to help meet Singapore’s energy requirements in the event of supply disruptions, enhancing the country’s energy security and resilience.
The arrangement is also expected to strengthen the reliability of Saudi Arabia’s crude oil supply chain across Southeast Asia.
Source: QNA
