Saudi Arabia’s Singapore plan: Riyadh eyes oil storage hub from 2027 amid Hormuz disruption
- The kingdom has planned to store crude oil at Singapore's Jurong Rock Caverns after oil supplies to Asia were severely choked in the Strait of Hormuz due to the US-Iran war (Photo: Reuters).
- Saudi Arabia plans to store crude oil in Singapore from the second half of 2027, energy ministers from both countries announced on Monday, as a move to bolster energy supply security in the region.
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- The kingdom has planned to store crude oil at Singapore's Jurong Rock Caverns after oil supplies to Asia were severely choked in the Strait of Hormuz due to the US-Iran war (Photo: Reuters).
- Saudi Arabia plans to store crude oil in Singapore from the second half of 2027, energy ministers from both countries announced on Monday, as a move to bolster energy supply security in the region.
Sources: Times of India