Oil

Oil

Police raid oil trader ZenRock's office after HSBC allegations

(May 9): The turmoil engulfing Singapore’s oil trading community deepened on Friday as the country’s police force raided the office of 

Oil

HSBC files application to put oil trader Zenrock Commodities under judicial management

(May 6): HSBC Holdings PLC took steps to oust the management at a Singapore oil trader as Europe’s biggest bank seeks to limit potential credit losses from the sector following the collapse of Hin

Oil

Oil prices dropped after three-day gain due to supply glut

(May 4): Oil snapped a three-day gain as optimism over a nascent recovery in demand was replaced by worries about the supply glut, while the continued exodus of exchange-traded funds also weighed o

Oil

Hin Leong collapse tarnishes Singapore’s oil trading haven reputation

(Apr 28): Singapore has long touted itself as the ideal home for a commodity trading house, with low taxes, light regulation and a view of one of the world’s busiest shipping channels.

Oil

Oil prices to remain under pressure till 3Q, say analysts

SINGAPORE (Apr 24): The once-invincible black gold made history this week when it crashed into negative price territory, as sellers frantically signal that they are willing to pay buyers to rid the

Oil

The tide turns for Hin Leong

The distressed Singapore oil trader has admitted to US$800 mil of undisclosed losses.

Oil

Finally we are being paid to consume oil

SINGAPORE (Apr 24): Oil prices — as measured by May Futures of West Texas Intermediate  expiring Tuesday afternoon April 21 Texas time — fell well below zero today.

Oil

Potential reprieve for Hin Leong as Sinopec eyes oil terminal

(Apr 23): Chinese state energy company Sinopec is in early-stage talks with Hin Leong Trading Pte Ltd to buy a stake in an oil storage terminal that is partly owned by the Singapore trader, accordi

Oil

Oil trader Hin Leong set to hand over management from founding family to PwC

(Apr 22): Tycoon OK Lim and his family are set to hand over management of the company founded in 1963 to PricewaterhouseCoopers LLP, deepening the demise of an empire Lim built into one of Singapor

Oil

MAS tells banks not to pull lines on oil players here 'indiscriminately'

SINGAPORE (Apr 21): The Monetary Authority of Singapore has told banks here not to “de-risk indiscriminately” from the bunkering and oil trading sectors.

Be informed of the stories that matter