07:01 AM EDT, 10/26/2026 (MT Newswires) -- Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, plans to store Saudi crude oil at Singapore's Jurong Rock Caverns from the second half of 2027, according to a Monday release from the city-state's government. Singapore Energy, Trade and Industry Minister Tan See Leng said government agencies Energy Market Authority and JTC Corp. will sign a memorandum of understanding on the joint plans with the oil giant later on Monday, aiming to conclude negotiations in a few months. The arrangement aims to enhance the resilience of the Saudi crude oil supply chain in Southeast Asia and boost Singapore's resilience amid supply disruptions. The Jurong Rock Caverns commercial underground storage facility can store up to 1.5 million cubic meters of liquid hydrocarbons such as crude oil and condensate.

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