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Oil and gas is not the sunset industry you think it is Even as climate change intensifies the call for decarbonisation, the oil and gas sector will play a pivotal role in Singapore, say EY consultants. The oil and gas sector is widely seen as a sunset industry. Write-downs of around US$145 billion (S$193.7 billion) in asset values globally over the first three quarters in 2020 have added to that perspective. Singapore, while not a domestic oil producer, has high stakes in this sector. The country is a global oil trading hub and a major global refining and petrochemicals center, accounting for 1.5 million barrels a day or 1.5 per cent of the global refining volume, and 25 million tonnes per annum or 1.2 per cent of the global petrochemicals capacity.

Singapore business federationInternational maritime organisationGas climate initiativeInternational energy agencyHuman capital initiativeLightsource joint ventureGas digital transformationWorkforce surveyCapital initiativeSingapore green planCarbon pricing actChannel newsசிங்கப்பூர் வணிக கூட்டமைப்புசர்வதேச கடல் ஆர்கநைஸேஶந்வாயு காலநிலை முயற்சிமனிதன் மூலதனம் முயற்சி