Singapore's Surprising Role in Global Petroleum Industry

• Despite having no oil reserves, Singapore is a major player in the petroleum industry.
• Singapore's biggest export is integrated chips, followed by refined petroleum.
• The country's rise from poverty to wealth is largely due to its role in the petroleum industry.
• Singapore has a strategic location, a robust banking industry, making it an ideal hub for oil-related activities.
• The country has diversified its involvement in the petroleum industry, expanding into petrochemicals and integrating its refinery and petrochemical industries.

Source: Asianometry