Saudi Arabia plans to store oil underground on Jurong Island in Singapore, to be operational from the second half of 2027.

智通财经2026/10/26 10:35

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⑴ According to the energy authorities of the two countries, Saudi Arabia plans to store crude oil approximately 150 meters underground on Singapore's Jurong Island, with the storage facility expected to be operational from the second half of 2027. ⑵ The related cavern storage capacity is about 9 million barrels. The Singaporean side stated that this crude oil will be used to safeguard domestic demand in case of supply disruptions. ⑶ According to reports, Saudi Aramco has already stored crude oil in Okinawa and Ulsan. ⑷ It is necessary to closely monitor the construction progress of this storage facility and its actual role in ensuring regional energy supply.

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