Why Saudi Arabia plans to store crude oil in Singapore

By Dwaipayan Roy

Oct 26, 2026

10:04 am

What's the story

Saudi Arabia has revealed plans to store crude oil at Singapore's Jurong Rock Caverns from the second half of 2027. The move, announced by Tan See Leng, Minister for Energy, Trade and Industry of Singapore, will bolster the resilience of the Saudi crude oil supply chain in Southeast Asia. It will also enhance energy security in Singapore amid possible supply disruptions.

Agreement

MoU to be signed today

A memorandum of understanding (MoU) will be signed between Saudi Aramco and Singapore's Energy Market Authority and JTC Corp. The signing is set to take place today.

Tan said that they hope to finalize negotiations within a few months' time.

This agreement marks a major step toward strengthening energy ties between the two nations.