In 2024, the Singaporean crude oil market decreased by -14.6% to $22.4B, falling for the second consecutive year after two years of growth. In general, consumption continues to indicate a noticeable downturn. Over the period under review, the market attained the peak level at $34.2B in 2012; however, from 2013 to 2024, consumption stood at a somewhat lower figure.

USD 57.25 Million in 2024; projected USD 112.93 Million by 2033; CAGR 7.85%.

The revenue of the soybean oil market in Singapore amounted to $X in 2017, approximately equating the previous year. Overall, soybean oil consumption continues to indicate a measured expansion. The growth pace was the most rapid in 2008, with an increase of X% y-o-y. In that year, the soybean oil market reached their peak level of $X.

For the fourth consecutive year, the Singaporean sesame oil market recorded growth in sales value, which increased by 12% to $4.6M in 2024. In general, consumption, however, saw a perceptible contraction. Over the period under review, the market attained the maximum level at $6.6M in 2013; however, from 2014 to 2024, consumption remained at a lower figure.

The Singaporean maize oil market skyrocketed to $99M in 2024, growing by 251% against the previous year. Overall, consumption enjoyed significant growth. Maize oil consumption peaked at $105M in 2022; however, from 2023 to 2024, consumption failed to regain momentum.

The Southeast Asia oil and gas downstream market is booming, with a CAGR exceeding 4% through 2033. Explore key drivers, trends, and restraints shaping this dynamic sector, including major players like Shell, ExxonMobil, and PTT. Discover regional market shares and investment opportunities in refineries and petrochemicals across Thailand, Singapore, Indonesia, Malaysia, and Vietnam. Recent developments include: In August 2022, PetroVietnam Power announced plans to build an oil refining plant and petrochemical complex in the country. The total investment is expected to be up to USD 18.5 billion., In May 2022, Thailand's national oil company PTT, and Saudi Arabian Oil Company signed a memorandum of understanding at a ceremony in Bangkok to expand their downstream presence in Asia. As part of the agreement, the companies intended to cooperate more closely in sourcing crude oil, refining and marketing petrochemical products, and liquefied natural gas (LNG). Other potential areas of activity include the use of blue and green hydrogen, as well as various clean energy programs.. Notable trends are: Refining Sector to Witness Growth.

Price for Crude Oil and Processed Petroleum in Singapore - 2022. Find the latest marketing data on the IndexBox platform.

In 2023, the value added by the petroleum manufacturing industry in Singapore was the highest, valuing to **** billion Singapore dollars. Comparatively, from 2015 to 2019, the contribution by petroleum manufacturing industry declined.

Singapore Cascarilla Bark Oil Market is expected to grow during 2025-2031

In 2024, the Singaporean soybean oil market decreased by -9.3% to $14M, falling for the second consecutive year after three years of growth. Over the period under review, consumption, however, showed a abrupt setback. Soybean oil consumption peaked at $27M in 2012; however, from 2013 to 2024, consumption stood at a somewhat lower figure.

Singapore Palm Kernel Oil Market is expected to grow during 2025-2031

The Singaporean palm kernel oil market expanded rapidly to $1.7M in 2024, with an increase of 13% against the previous year. Over the period under review, consumption, however, recorded a abrupt decline. Over the period under review, the market hit record highs at $17M in 2017; however, from 2018 to 2024, consumption failed to regain momentum.

In 2021, approximately **** million tons of oil equivalent of oil were consumed by the industry sector of Singapore, slightly up compared to the previous year. The highest industry-related oil consumption was observed in 2019 in the given period.

Singapore Energy Balance: Secondary: Total Oil Products: Gas or Diesel Oil: Demand data was reported at 0.000 Barrel th in Jan 2025. This stayed constant from the previous number of 0.000 Barrel th for Dec 2024. Singapore Energy Balance: Secondary: Total Oil Products: Gas or Diesel Oil: Demand data is updated monthly, averaging 0.000 Barrel th from Jan 2002 (Median) to Jan 2025, with 277 observations. The data reached an all-time high of 0.000 Barrel th in Jan 2025 and a record low of 0.000 Barrel th in Jan 2025. Singapore Energy Balance: Secondary: Total Oil Products: Gas or Diesel Oil: Demand data remains active status in CEIC and is reported by Joint Organisations Data Initiative. The data is categorized under Global Database’s Singapore – Table SG.JODI.WDB: Energy Balance: Oil. For automotive and other purposes; Demand of Finished Products only. Demand of finished products: Deliveries or sales to the inland market (domestic consumption) plus Refinery Fuel plus International Marine and Aviation Bunkers. Demand for Other oil products includes direct use of Crude oil, NGL, and Other.

USD 138.04 Million in 2024; projected USD 258.91 Million by 2033; CAGR 7.25%.

Singapore Cinnamon Bark Oil Market is expected to grow during 2025-2031

Singapore Mineral Oil Market is expected to grow during 2024-2030

Singapore Styrax oil Market is expected to grow during 2025-2031

Recent developments include: June 2023: Sembcorp Industries signed a USD 1.41 billion gas sales agreement with Medco Energi International to import gas from an offshore play in Indonesia to Singapore. Gas will be obtained from the West Natuna gas field and dispatched to Singapore through the West Natuna-Singapore gas pipeline., November 2022: Medco Energy Internasional Tbk, an Indonesian oil and gas group, announced signing an agreement with Singapore to continue supplying the city-state with gas for five years starting August 2023. This agreement is signed between subsidiary Medco E&P Grissik Ltd and Singapore gas importer Gas Supply Pte Ltd. (GSPL).. Key drivers for this market are: 4., Increasing Demand for Petroleum Products Due to the Growth of the Local Economy4.; Government Initiatives to Boost the Production of Crude Oil and Natural Gas. Potential restraints include: 4., Increasing Adoption of Renewable Energy. Notable trends are: Upstream Sector Expected to Witness Significant Growth.

The Singaporean groundnut oil market fell to $2.3M in 2024, waning by -7.6% against the previous year. Over the period under review, consumption saw a abrupt decrease. Groundnut oil consumption peaked at $5.4M in 2012; however, from 2013 to 2024, consumption failed to regain momentum.