05 February 2014

Singapore Refining Company (SRC) has reached a final investment decision for a new US$500 million-plus project to install a gasoline clean fuels facility and a cogeneration plant at its refinery on Jurong Island.
Singapore Petroleum Company has given its official nod, joining fellow shareholders Chevron Singapore and Chevron Trading which had earlier already said yes.
"The investment will add new facilities to its refinery, including a gasoline desulphurization unit, an amine treating unit, a heavy naphtha splitter and cogeneration units," SRC said.
"Construction of new facilities will also create a large number of employment opportunities in Singapore, with about 2,000 engineers and construction personnel on site during the construction," said James Er, CEO of SRC.
The gasoline clean fuels facility will enable SRC to produce transportation fuels to meet the more stringent gasoline quality specifications in the region.
The cogeneration plant will enable SRC to generate its own electricity supply and improve energy efficiency. This will go its way to significantly reduce greenhouse gas and sulphur oxide emissions, it said.
SRC is a 50/50 joint venture between Chevron (Chevron Singapore Pte. Ltd. and Chevron Trading Pte. Ltd.) and Singapore Petroleum Company, a wholly-owned subsidiary of PetroChina International Co. Ltd.
SRC processes up to 290,000 barrels of crude oil per day producing liquefied petroleum gas, gasoline, jet fuel, diesel, fuel oil and asphalt.