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Higher petroleum, chemical prices lift Q1 domestic wholesale trade

HIGHER prices of petroleum and chemical products lifted Singapore's domestic wholesale trade in the first quarter of the year, said the Department of Statistics on Friday. Domestic wholesale trade expanded by 23.5 per cent in Q1 2017 compared to a year ago; quarter on quarter, the rise was 1.6 per cent. Excluding petroleum, domestic wholesale trade rose 7.6 per cent from a year ago. After adjusting for price changes, overall domestic wholesale...


ExxonMobil emerges as white knight for Jurong Aromatics

EXXONMOBIL has agreed to acquire the Jurong Island assets of Jurong Aromatics Corporation (JAC), effectively giving the beleaguered firm a new lease of life. Confirming market speculation that has swirled for some months, the American integrated oil giant said on Thursday that it has reached an agreement on the deal, beating five other bidders such as Lotte Chemical Corp and SK from Korea, which had been shortlisted. The acquisition sum was not...


Trafigura sees big jump in oil trading volumes in Asia

TRAFIGURA, the third-largest oil trading house in the world, has clocked a big jump in its trading volumes in Asia in the past one year. The growth, seen across all of its products, comes before the close of its investment into Indian integrated oil company Essar Oil, which promises to boost volumes even further. "In the last one year we have grown our (Asia) business from 30 per cent of all revenue to close to...


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