Bloomberg News

Singapore’s Gasoil Stockpiles Shrink to Lowest in Five Months

October 27, 2011

Oct. 27 (Bloomberg) -- Singapore’s stockpiles of middle distillates shrank to the lowest level in five months, data from the Ministry of Trade and Industry showed.

Onshore inventories of middle distillates, including gasoil and kerosene, fell by 11 percent to 11 million barrels in the week ending Oct. 26, the lowest since May 18, International Enterprise Singapore said in an e-mailed statement today.

Stockpiles of residues, a category that includes fuel oil and low-sulfur waxy residue and excludes bitumen, increased 5.1 percent to 18 million barrels, the highest since Sept. 28. Light distillates such as naphtha, reformate and gasoline rose 7.3 percent to 9.9 million barrels.

The trade ministry unit surveys refiners, oil companies and storage terminals on a voluntary basis. The results may exclude some offshore storage capacity, International Enterprise said.

--Editors: Alexander Kwiatkowski, Mike Anderson

To contact the reporter on this story: Ann Koh in Singapore at akoh15@bloomberg.net

To contact the editor responsible for this story: Alexander Kwiatkowski at akwiatkowsk2@bloomberg.net


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