Singapore Expats

If you guys havent noticed already, oil prices have been falling hard and it has taken lots of people by surprise. This is going to have lots of postive as well as negative impacts on countries, companies and people.

Oil importing countries like India, Indonesia are going to benefit while those that export will feel the pressure like Canada and Russia.

I believe Singapore too has a big oil industry, any ideas how Singapore is going to be impacted?

This is the only article I found:
http://www.channelnewsasia.com/news/bus ... 94500.html

Wd40 wrote:If you guys havent noticed already, oil prices have been falling hard and it has taken lots of people by surprise. This is going to have lots of postive as well as negative impacts on countries, companies and people.

Oil importing countries like India, Indonesia are going to benefit while those that export will feel the pressure like Canada and Russia.

I believe Singapore too has a big oil industry, any ideas how Singapore is going to be impacted?

This is the only article I found:
http://www.channelnewsasia.com/news/bus ... 94500.html

Lots of Tankers sat outside port full of oil waiting for the price to go back up ....

I imagine that means the "beaches" will get more polluted and the sea water quality will go down.

obviously oil producing countries will be less well off and oil importers better off. But overall it's a positive for global economy as some of the key regions struggling (EU, Japan) are big energy importers and need a boost to keep their economies going....

As for Singapore, the biggest oil refining sector is not really about absolute oil price, but relative margin of petroleum products vs crude oil. Nonetheless refining margins are also bleak, and Singapore also has lots of oil & gas trading, services and shipping companies that will face more challenging times in this low oil price world.

Interesting you mention EU and Japan. From what I read the lastest stock market crash that is happening in Europe is because of stagflation/deflation and they appear to go the Japan way of a lost decade and the falling oil prices are a cause.


http://www.bloomberg.com/news/2014-10-2 ... -ugly.html

Wd40 wrote:Interesting you mention EU and Japan. From what I read the lastest stock market crash that is happening in Europe is because of stagflation/deflation and they appear to go the Japan way of a lost decade and the falling oil prices are a cause.
http://www.bloomberg.com/news/2014-10-2 ... -ugly.html

The continental EU [i.e. ex the UK] is buggered. The Germans, with an almost century old knee-jerk pathological hatred of inflation, would rather see the continent mired in stagnation than God forbid growth and any inflation.

Ironic as the EU model was meant to be some world-leading route to progress and riches (in a 'socially equitable' way, not like those BAD dog-eat-dog capitalist Yanks). Instead the EU is and will remain treading water, because no one in the EU has a plan B, never mind dares floating it.

Oil prices continue to slide...

Is it just me or can anyone else hear the Russians squealing all the way from Moscow's politburo? Music to my ears...

Hehehe... Putin must be spewing. So sad, considering what a 'lovely man' he is.

aster wrote:Oil prices continue to slide...

Is it just me or can anyone else hear the Russians squealing all the way from Moscow's politburo? Music to my ears...

Maybe related or not I can't say

Since yesterday ship news grapevine choked with news of a large bunker supplier going down due to internal fraud!!!

We actually import and reexport the oil. I guess there wouldn't be so much of an impact as the falling oil prices will most likely increase consumption and eventually, the middleman (Singapore) will still get is comm for processing the oil for reexport.

chanwbkenneth wrote:We actually import and reexport the oil. I guess there wouldn't be so much of an impact as the falling oil prices will most likely increase consumption and eventually, the middleman (Singapore) will still get is comm for processing the oil for reexport.

Singapore has one of the largest oil supply and construction industries in the world, headquarters for Rig and Vessel construction supporting the oil industry. This is going to hurt a lot of local companies and there has been a slow down in demand, or a delay in projects already for months.

Scotland is predicted to cut around a quarter of its oil related workforce in the coming months and year....bearing in mind the SNP were saying oil would be a saviour of an independent country, even they must be relatively comfortable now at a NO vote How times change, and quickly.

ScoobyDoes wrote:

chanwbkenneth wrote:We actually import and reexport the oil. I guess there wouldn't be so much of an impact as the falling oil prices will most likely increase consumption and eventually, the middleman (Singapore) will still get is comm for processing the oil for reexport.

Singapore has one of the largest oil supply and construction industries in the world, headquarters for Rig and Vessel construction supporting the oil industry. This is going to hurt a lot of local companies and there has been a slow down in demand, or a delay in projects already for months.

Scotland is predicted to cut around a quarter of its oil related workforce in the coming months and year....bearing in mind the SNP were saying oil would be a saviour of an independent country, even they must be relatively comfortable now at a NO vote How times change, and quickly.

you can see scores of Offshore supply vessels in Loyang Offshore base, and a larger number in Tuas Area, all previously deployed in other countries

I am not sure, but maybe the plan is to slow production to boost back prices ..

though dropping from 100+ to 50 is large drop .. and welcome drop, as long as it starts to reflect on lower cost of living .. (and no pay cuts I hope .. )