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SINGAPORE, July 29 - Singapore Petroleum on Tuesday reported a 0.6 percent increase in quarterly net profit and said it expected refining margins to remain healthy.
The oil refining and marketing firm said it earned S$180.3 million in the three months to the end of June, compared with S$179.2 million.
According to Reuters calculations, refining margins in Singapore for complex units cracking benchmark Dubai crude made an average of $8.14 a barrel in the second quarter, historically high and above the $7.11 average of the past year.
Keppel Corp, the world's number-one offshore oil drilling rigs builder, owns 45 percent of SPC, which equally shares ownership of a 285,000 barrels a day refinery in Singapore with U.S. oil major Chevron.
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