BP Singapore The history of BP’s operations in Singapore dates back to 1964 with the purchase of one of the fledging city- state’s first oil refineries at Pasir Panjang Road. It later raised its refining capacity in 1979 by taking a one- third stake in a joint- venture refinery on Pulau Merlimau with partners, Caltex and the Singapore Petroleum Company, a move which helped to make Singapore one of the world’s top three refining and trading hubs by the late 1970s and 1980s. At around the same time, BP chose Singapore as its base to develop its presence in Asia.
In 2004, BP Singapore sold its refining and retail network and liquefied petroleum gas (LPG) bottling assets. It is now the hub for the group’s key businesses and functions in Asia including its legal, tax, information technology, audit, health, safety, security and environmental services.
BP Singapore’s current activities include oil, gas and chemicals trading, shipping and lubricants. The oil, gas and chemicals trading business unit manages a global trading portfolio, and supports BP’s regional marketing and business development initiatives. BP Singapore also serves global markets and customers in the shipping and aviation sectors. Its marine division supplies bunker fuel and marine lubricants to ships, while the aviation unit markets fuel, lubricants and technical services to the aviation industry in the region.
In 2005, BP Singapore employed a staff force of some 600, with a turnover in excess of US$30 billion.