Oil Trading in Singapore – A Strategic Perspective
This talk will cover among others, the oil trading system in the Asia- Pacific region; the players in this market; and the challenges faced by Singapore as an oil trading centre.
The strategic geographical location of Singapore and its excellent supporting infrastructures have enabled it to become the centre for trading of crude oils and petroleum products for the region. Its surplus refining capacity coupled with the excess oil storage capacity have made Singapore a swing refining centre to help balance the demand of oil products in the region. In the process Singapore has become a key centre for oil trading globally. The presence of the many international oil trading companies in Singapore is a testimony of its importance.
This talk will cover 3 aspects:
An overview on how the oil trading system works and the patterns of trade and consumption in the Asia- Pacific region;
- the players in this market, including the role of government, infrastructure & logistics aspects etc
- the role of Singapore and the challenges ahead in maintaining its status as an oil trading centre.
- the contribution Singapore has made to the world/regional flows of oil and gas as a balancing centre for shortfalls/surplus etc.
The strategic role Singapore could continue to play in a changing market environment which is getting more complex
- in the light of the strategic importance of oil to the regional economies;
- in the light of other energy sources becoming more attractive options with the rising oil prices and
- in the light of challenges posed by Dubai, China etc
Mr Samuel Owen
Formerly Trading Manager
Mr Henry Kwok
Centre for Strategic Management
Samuel Owen is a Chemical Engineer by training having graduated from NUS in 1981. He started his career as a Process Engineer/Refinery Planner at Shell in 1981; from 1984-1986 he was an Operations analyst at Gulf Oil Trading; from 1986 to 87 he was Operations Manager with Phibro Energy; from 1988-90 he was Operations/Chartering manager with Elf Trading Asia; 1990 to 96 he was Senior Area Trading Manager with Chevron; from 1996 to 2001 he managed Caltex’s Clean Products and Fueloil Trading Activities in Asia; from 2002 to 2003, he was Head of Emirates National Oil Company’s Singapore Office; in 2005 he worked for PowerSeraya to help set up its trading and trading business plan; he now runs Singapore Energy Consulting Services, a company that specializes in Energy Consulting Services for new set ups of trading and set up/review of trading business plans and which provides training.
Henry Kwok has held senior positions with regional responsibilities in big Multi-National Companies like Cargill, BHP Petroleum and Shell. He also has held directorship in several companies he has helped set-up. Some of them had grown into mid-sized companies with international operations. Henry has traded with many Chinese companies and is very familiar with their practices. One company, in which he helped set-up, has the distinction of selling the first commercial cargo of gas oil into S China and of being the first company, in partnership with Unocal, to enter into a private arrangement to process crude oil in Zhenghai Refinery, PRC.
Henry is a proven trader in bulk commodities ranging from crude oils and petroleum products to chemicals and solvents, from grains to vegetable oils. Henry is also familiar with the transportation business with experience in chartering of vessels for bulk commodities to running an agency for container feeder service.
Tel: 6870 2413
Fax: 6775 6264
E-mail: [email protected]