Singapore Petroleum Company
Corporate brand
UnclaimedSingapore-based integrated oil company involved in exploration and production, refining, petroleum trading, distribution, and retail.
Last updated August 31, 2026
Overview
Singapore Petroleum Company Limited, commonly known as SPC, is an integrated oil company headquartered in Singapore. Its activities have covered the petroleum value chain from upstream exploration and production to refining, petroleum-product trading, storage, fuel distribution, aviation sales, and service-station retail. The company was established in 1969 as Singapore Petroleum & Chemical Co. Pte Ltd and subsequently adopted the Singapore Petroleum Company name. SPC developed its downstream position partly through its ownership interest in Singapore Refining Company Pte Ltd (SRC), a refinery venture established in 1979. SRC operates a complex refinery on Singapore's Jurong Island, and SPC has held the facility jointly with Chevron Corporation, whose Singapore retail operations use the Caltex brand. The refinery is capable of processing crude oils with differing qualities, including heavy, medium, and light grades, and has supplied products such as gasoline, diesel, jet fuel, and fuel oil. SPC's downstream business also included petroleum-product storage at Pulau Sebarok, where a marine terminal supported bunkering, trading, and marketing activities. The company expanded beyond Singapore through regional exploration and production investments. Its upstream portfolio included the Kakap and Sampang production-sharing contracts in Indonesia, offshore Blocks 102 and 106 in Vietnam, and interests in Blocks 04/36 and 05/36 in Bohai Bay, China. SPC also participated in regional gas transportation infrastructure. These interests included the West Natuna Transportation System, a cross-border subsea pipeline connecting Indonesian gas supplies with Singapore, as well as the Grissik-Batam-Singapore and Grissik-Duri pipelines in Indonesia and the wider Singapore gas-supply network. SPC's trading operations handled both distillate and residual petroleum products. Its trading portfolio included naphtha, gasoline, automotive diesel oil, jet fuel, kerosene, and fuel oil. An aviation-sales unit supplied aviation fuel to airlines at airports in Singapore, Hong Kong, Bangkok, and Taipei. The company also marketed marine fuels and operated a supply and storage network serving industrial, commercial, and transportation customers. In Singapore, SPC became recognizable through its branded filling stations and petroleum-product distribution activities. A major corporate turning point came in 2004, when SPC acquired BP's 50 percent interest in Singapore Refining Company together with BP's Singapore retail network of 28 stations and its liquefied petroleum gas business. This strengthened SPC's position in both refining and retail. In 2009, PetroChina acquired SPC from Keppel Corporation. Following completion of the takeover, SPC was delisted from the Singapore Exchange on 22 October 2009 and became a PetroChina subsidiary. In 2019, SPC undertook a corporate overhaul and introduced a revised visual identity incorporating elements of PetroChina's branding. The change reflected closer integration with its parent company while retaining the SPC name in its Singapore-facing businesses. SPC is therefore best understood as a PetroChina-controlled integrated petroleum company with a Singapore base and a regional operating footprint, rather than as an independently listed Singapore energy group.
History
Singapore Petroleum Company was founded in 1969 as Singapore Petroleum & Chemical Co. Pte Ltd. It later changed its name to Singapore Petroleum Company Ltd and developed into an integrated petroleum business based in Singapore. Its operations came to encompass upstream exploration and production, refinery ownership, oil trading, storage, fuel marketing, and retail distribution. A central part of SPC's downstream structure was Singapore Refining Company, a refinery venture established in 1979. SPC became a part-owner of SRC alongside Chevron Corporation. The refinery, located on Jurong Island, was designed to process a broad range of crude grades and produce marketable petroleum products, including gasoline, diesel, aviation fuel, and fuel oil. Refining enabled SPC to connect crude procurement with product trading, wholesale supply, and retail distribution. SPC strengthened this position in 2004 by acquiring BP's 50 percent interest in SRC. The transaction also brought BP's Singapore retail network of 28 filling stations and its liquefied petroleum gas business into SPC's portfolio. This expanded the company's consumer-facing presence while increasing its control over refining and product supply. SPC subsequently operated across several related downstream activities, including product storage at Pulau Sebarok, marine bunkering, petroleum trading, and aviation-fuel sales. The company's upstream and infrastructure activities developed across Southeast Asia and China. Its exploration and production interests included the Kakap and Sampang production-sharing contracts in Indonesia, Blocks 102 and 106 in Vietnam, and two Bohai Bay blocks in China added in 2007. SPC also participated in gas transmission infrastructure. Its regional pipeline interests included the 654-kilometre West Natuna Transportation System, which carries gas from Indonesia's West Natuna Sea to Singapore, the 468-kilometre Grissik-Batam-Singapore pipeline, and the 536-kilometre Grissik-Duri pipeline in Indonesia. SPC's trading organization dealt in both distillate and residual products. Distillate activities included naphtha, gasoline, gasoil, and jet fuel, while the residual business focused on fuel oil and marine sales. The aviation-sales business supplied airlines at airports in Singapore, Hong Kong, Bangkok, and Taipei. This gave SPC a regional role in aviation-fuel supply in addition to its Singapore retail and industrial businesses. In 2009, PetroChina, the Chinese state-owned oil company, acquired SPC from Keppel Corporation. The transaction changed SPC from a Singapore-listed company into a PetroChina subsidiary, and the company was delisted from the Singapore Exchange on 22 October 2009. PetroChina's ownership placed SPC within a larger international energy group and connected its Singapore and regional operations to PetroChina's broader petroleum businesses. In 2019, SPC changed its logo and carried out a company overhaul. Its new visual identity incorporated elements of PetroChina's branding, signaling closer corporate integration while preserving the SPC identity in the markets where the brand operated. The company's documented business scope remains centered on exploration and production, refining, trading, storage, distribution, and petroleum retail. Its history reflects the evolution of Singapore's energy sector from a locally based petroleum enterprise into a regional subsidiary of a major Chinese oil group.
- 2019
Visual identity revised
[1]SPC introduced a revised logo and undertook an overhaul incorporating visual elements associated with PetroChina.
- 2009
Acquired by PetroChina and delisted
[1]PetroChina acquired SPC from Keppel Corporation, and SPC was delisted from the Singapore Exchange on 22 October.
- 2007
Bohai Bay interests added
[1]SPC expanded into China through interests in offshore Blocks 04/36 and 05/36 in Bohai Bay.
- 2004
BP assets acquired
[1]SPC acquired BP's interest in Singapore Refining Company, its Singapore filling-station network, and its local LPG business.
- 2003
Grissik-Batam-Singapore gas supply begins
[1]Gas deliveries to Singapore began through the Grissik-Batam-Singapore pipeline under a long-term Indonesia-Singapore arrangement.
- 1979
Singapore Refining Company established
[1]Singapore Refining Company Pte Ltd was established as a refinery venture in which SPC later became a part-owner.
- 1969
Company established
[1]Singapore Petroleum & Chemical Co. Pte Ltd was founded in Singapore and later became Singapore Petroleum Company Ltd.
Products and positioning
A Singapore-based, PetroChina-controlled integrated petroleum company serving refining, fuel distribution, energy trading, upstream assets, and regional gas infrastructure.
Refining
Refined petroleum products
SPC's refining business, conducted through its interest in Singapore Refining Company, produces a range of petroleum products from crude oil. The complex refinery can process heavy, medium, and light crude grades, supporting the manufacture and supply of gasoline, automotive diesel, jet fuel, fuel oil, and related products for Singapore and regional markets.
Retail fuel · 2004
SPC service stations
SPC-branded filling stations form the company's principal consumer-facing retail business in Singapore. The network sells road fuels and supports the distribution of petroleum products to motorists and other transportation customers. SPC expanded its retail presence through the acquisition of BP's Singapore station network in 2004.
Aviation fuels
Aviation fuel
SPC's aviation-sales unit markets and supplies aviation fuel to airlines. The documented service footprint includes international airports in Singapore, Hong Kong, Bangkok, and Taipei, giving the company a regional aviation-fuel role in the Asia-Pacific market.
Marine fuels
Marine bunker fuel
SPC trades and sells fuel oil for marine customers and bunker operations. Its Pulau Sebarok storage terminal supports marine-fuel supply, product trading, and marketing, with fuel sourced from the company's refinery interests and external trading networks.
Gas infrastructure
Regional gas transportation interests
SPC has held interests in regional gas transmission systems linking Indonesia with Singapore and other facilities. The portfolio includes the West Natuna Transportation System, the Grissik-Batam-Singapore pipeline, and the Grissik-Duri pipeline.
Brand decisions
2019
Integrate the SPC identity with PetroChinaStrategyBackground
Following a decade under PetroChina ownership, SPC undertook an organizational overhaul and moved toward a more closely integrated group identity.
Action taken
SPC changed its logo and introduced a visual identity incorporating PetroChina logo elements.
Aftermath
The rebranding signaled closer alignment with PetroChina while retaining the SPC name for its local and regional businesses.
2009
Accept PetroChina takeoverM&ABackground
SPC was acquired from Keppel Corporation as PetroChina expanded its international petroleum portfolio.
Action taken
PetroChina completed the acquisition, after which SPC was removed from the Singapore Exchange on 22 October 2009.
Aftermath
SPC became a subsidiary of PetroChina rather than an independently listed Singapore company.
2004
Acquire BP's Singapore assetsM&ABackground
SPC sought to strengthen its integrated downstream position in Singapore through greater participation in refining, retail fuel distribution, and LPG.
Action taken
The company acquired BP's 50 percent interest in Singapore Refining Company, BP's 28-station Singapore retail network, and its Singapore LPG business.
Aftermath
The transaction expanded SPC's refining ownership and consumer-facing distribution network.
Recent events
- 2019
SPC introduces identity aligned with PetroChina[1]
Other
SPC changed its logo and undertook a corporate overhaul, introducing a visual identity that incorporated elements associated with PetroChina.
- 2009
PetroChina completes acquisition of SPC[1]
M&A · Leadership change
PetroChina acquired Singapore Petroleum Company from Keppel Corporation. SPC was subsequently delisted from the Singapore Exchange on 22 October 2009.
- 2007
SPC expands upstream portfolio in China[1]
Other
The company added interests in offshore Blocks 04/36 and 05/36 in China's Bohai Bay, extending its regional exploration and production portfolio.
- 2004
SPC acquires BP's Singapore refining and retail interests[1]
M&A
Singapore Petroleum Company acquired BP's 50 percent interest in Singapore Refining Company, along with BP's Singapore network of 28 service stations and its liquefied petroleum gas business.
Sources1 sources
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