SINGAPORE Jan 5 Oil refiner and retailer
Singapore Petroleum Co (SPC) SPCS.SI said on Monday it was
reviewing plans for two investments, confirming a local media
The Business Times newspaper had said Singapore Refining
Co, a joint venture between SPC and U.S. oil giant Chevron
(CVX.N), may scrap plans to invest $200-300 million to produce
ultra-low-sulphur gasoline and another $100 million in a
SPC, an affiliate of rig builder Keppel Corp (KPLM.SI), did
not provide a reason for the review, which comes amid falling
demand for oil products and the global credit crunch.
By 0510 GMT, shares in SPC were up 3 percent in a broader
market .FTSTI up 1.6 percent.
(Reporting by Kevin Lim; Editing by Anshuman Daga)