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National News

The Economic Times

National / The Economic Times

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Saudi Arabia to store crude oil in Singapore from second half of 2027

Saudi Arabia has announced its intention to store crude oil in Singapore's Jurong Rock Caverns by 2027. This arrangement will enhance the resilience of the Saudi crude oil supply chain in Southeast Asia. Additionally, it will contribute to Singapore's energy security amid potential supply disruptions. A memorandum of understanding will be signed between Saudi Aramco and local authorities to formalize this agreement.

26 Oct 2026 7:34 am