Singapore prepares to swap its oil hub status for greener future


Alternative energy: The Singapore Green Plan 2030 sets out a path for the city-state to become a leading regional hub for carbon trading, green finance, consulting and risk management and other services. — AFP

SINGAPORE: BukomRoyal Dutch Shell Plc announced late last year it would slash capacity by half at its biggest oil refinery. For Singapore, where the plant has been a mainstay of the economy for six decades, it marked a turning point in one of the most successful bets on fossil fuels in history.

The plant on Bukom Island is part of a massive refining and petrochemical industry built largely on reclaimed islands just off the city-state.

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