“[My] company plans to invest US$20-US$40 million in the next three to four years to upgrade [our] hydro-treating plant and reformer. The upgrade will help SRC, which Singapore Petroleum and ChevronTexaco own equally, meet growing demand [in China] for cleaner automotive fuels,” said SRC chief executive Tony Anderson.
Shell spokesman Foo Hsu-Yi said that while Shell already meets the Euro IV standards for lower-sulphur diesel extra capacity was now needed to produce the necessary quantities before October 2006, when Singapore will adopt the standard.
Singapore current refines 1.3 million bopd, with ExxonMobil accounting for 580,000 bopd, Shell 430,000 bopd and SRC 285,000 bopd.
