Shell said on Monday there was no impact to operations after an oil leak over the weekend from a land-based pipeline at Shell Energy and Chemicals Park Singapore on Bukom island, adding that the leak had been stopped.
"We estimate that approximately 30-40 metric tonnes of slop, which is a mixture of oil and water, was leaked into the sea," the company said in a statement, adding that it was working with all relevant authorities to manage the clean-up effort.
"There is no impact to Bukom operations or supply. The leak has been stopped and we are taking steps to clean up the oil which has spilled," a Shell spokesperson said in an email.
Shell Singapore in August shut down one crude distillation unit (CDU) and other facilities at its refinery in Bukom for a scheduled overhaul. The maintenance was expected to end in the first half of October.
The company sold its refinery and petrochemical plants in Singapore to a joint venture company between Indonesia petrochemicals producer Chandra Asri and major trading house Glencore GLEN.L in early May. The transaction is expected to be completed by the end of 2024.
Earlier this year, beaches on Singapore's Sentosa island were closed after an oil spill spread from a nearby shipping terminal to the tourist haven south of the city-state.
The tech-heavy Nasdaq Composite index was set to confirm it was in a bear market on Friday, down more than 20 per cent from a recent record high, as investors fled riskier assets on fears that tariffs imposed by President Donald Trump could spark a trade war and tip the global economy into recession.
UAE-based Dana Gas and Crescent Petroleum, alongside their partners in the Pearl Petroleum consortium, have said the cumulative production from their Khor Mor project, the largest non-associated gas field in Iraq, has exceeded 500 million barrels of oil equivalent (boe).
China has announced a slew of additional tariffs and restrictions against US goods as a countermeasure to sweeping tariffs imposed by US President Donald Trump. The Finance Ministry said it would impose additional tariffs of 34 per cent on all US goods from April 10.
Stocks limped to the end of the week on Friday, the dollar was set for its worst week in a month while gold flirted with a record peak as investors feared US President Donald Trump's sweeping tariffs would tip the global economy into a recession.
US stock index futures tumbled on Thursday after President Donald Trump's sweeping tariffs on major trade partners heightened fears of an all-out trade war that could push the global economy into a recession.