Supply and demand

Singapore does not publish statistics on the country’s refined petroleum products, including diesel, consumption and production.

Data from the U.S. Energy Information Administration (EIA) does not separate distillate into on-road and marine diesel. Instead, it showed distillate consumption in 2022 at 163,000 barrels/day (b/d). On the other hand, data on distillate fuel production is only available until 2014. SGS INSPIRE estimates that the country’s total distillate fuel production remained at an average of 230,000 b/d from 2015 to 2022. A further decline is expected after Shell halved its refinery capacity, effective in 2023.

Singapore is a net exporter of refined petroleum products. The country’s total fuel consumption is typically around 10% of its total production capac