Singapore refiners in midst of huge construction campaign

This paper reports that Singapore's downstream capacity continues to mushroom. Singapore refiners, upbeat about long term prospects for petroleum products demand in the Asia-Pacific region, and are pressing plans to boost processing capacity. Their plans go beyond capacity expansions. They are proceeding with projects to upgrade refineries to emphasize production of higher value products and to further integrate refining capabilities wit the region's petrochemical industry. Planned expansion and upgrading projects at Singapore refineries call for outlays of more than $1 billion to boost total capacity to about 1.1 million b/d in 1993 and 1.27 million b/d by 1995. That would be the highest level since the mid-1980s, when refiners such as Shell Singapore cut capacity amid an oil glut. Singapore refineries currently are running at effective full capacity of 1.04 million b/d. Meanwhile, Singapore refiners are aggressively courting customers in the Indochina subcontinent, where long isolated centrally planned economies are turning gradually to free markets