Singapore Refiner Diversifies Crude Supply Amid Iran War Disruptions

Aster Chemicals and Energy, a Singapore-based refiner, is diversifying its crude oil supply due to disruptions in Middle Eastern exports caused by the Iran war.

The refinery previously sourced about 70% of its crude from the Middle East, but with Gulf supplies facing disruption, Aster is looking beyond traditional suppliers.

Aster's managing director, Han Lih Kwong, notes that the company has increased purchases of crude grades it has processed in the past, although in smaller quantities.

The refinery is expanding its crude oil storage capacity to hold crude from different origins and blend various grades, allowing for more flexibility in supply management.