Singapore Petroleum Company

What Singapore Petroleum Company does

Singapore Petroleum Company Limited (SPC) is a privately-held, integrated oil and gas company headquartered in Singapore at One Temasek Avenue (Millenia Tower) and a subsidiary of PetroChina International (Singapore) Pte. Ltd. since 2009. Founded in 1969, SPC operates across the full petroleum value chain: upstream exploration and production across 8 Production Sharing Contracts, 1 exploration permit, and 2 gas pipelines in Australia, Cambodia, China, Indonesia, and Vietnam; midstream refining via a 50% interest in Singapore Refining Company (SRC, 290,000 barrels/day capacity) and a 220,000 cubic-metre storage terminal at Pulau Sebarok with a deepwater jetty; and downstream retail, aviation, commercial/industrial sales, lubricants, and trading operations.

SPC serves individual motorists through a network of 40+ service stations across Singapore complemented by SpeedyCare automotive service centres, Choices 24-hour convenience stores, and a manual carwash network. It supplies jet fuel to 30+ international airlines at Changi Airport (via CAFHI membership) and across Taiwan, Thailand, and Cambodia, and provides bulk automotive diesel, marine gas oil, gasoline, LPG, and asphalt to transportation, government, marine, construction, and manufacturing customers. The proprietary SPC+ mobile application, SPC&U loyalty programme, PDVL/TDVL programme, and branded product lines (SPC LEVO fuels, SYNACE and MOTEUR lubricants) form the consumer-facing technology stack, while partnerships with DBS, POSB, UOB, and American Express drive payment-linked demand.

Revenue is generated through unit-pricing fuel sales (per litre), SpeedyCare service packages (S$115–S$158), managed storage services, and trading spreads across crude and refined products in South/Southeast Asia, the Middle East, Australia, and East Africa. GTM combines direct-to-consumer retail, B2B sales-led enterprise contracts, and channel partnerships (CAFHI, credit card networks). The company holds ISO 9001, ISO 14001, ISO 45001, SINGLAS, and PDPA compliance certifications.

Name

Singapore Petroleum Company

Legal name

Singapore Petroleum Company Limited

Website

https://spc.com.sg

Company type

Private

Founded year

1969

Operating status

Operating

Headcount range

251–500 employees

Short description

Singapore Petroleum Company is a privately-held, integrated oil and gas company and PetroChina subsidiary operating upstream E&P, refining (50% of SRC), storage, trading, and downstream retail — including 40+ Singapore service stations, aviation fuelling at Changi and across Asia, lubricants, and SpeedyCare automotive services.

Ownership category

akta.pro rank

Product category

Integrated Oil and Gas

NAICS

Petroleum Refineries (32411), Petroleum Bulk Stations and Terminals (424710), Fuel Dealers (45721), Petroleum and Coal Products Manufacturing (3241)

SIC

Retail-Auto Dealers & Gasoline Stations (5500), Wholesale-Petroleum Bulk Stations & Terminals (5171), Petroleum Refining (2911), Pipe Lines (No Natural Gas) (4610), Crude Petroleum & Natural Gas (1311)

akta.pro primary industry

Retail Service Station Operations (Company-Owned & Dealer-Operated) (EUALAIAA)

akta.pro secondary industries

Aviation Fuel Marketing (Into-Plane, Airport Fueling) (EUALAIAH), Marine Bunkering & Port Fuel Supply (EUALAIAG), Liquid Bulk Petroleum Terminals (Crude, Refined Products) (TLAHABAH), Fuel Pricing, Loyalty & Payments Platforms (POS, Mobile Pay, Fleet Cards, Loyalty Programs) (EUALAIAK), Non-Fuel Retail & Ancillary Forecourt Services (Car Wash, Auto Care, ATM/Lottery, Parcel Lockers) (EUALAIAJ)

Keywords

• Petroleum refining
• Retail fuel stations
• Aviation fuel supply
• Crude oil trading
• Oil gas exploration

Headquarters

HQ city

Singapore

HQ country

Singapore

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Supply Chain, Operations, Infrastructure, Personnel, Marketing or Sales

Revenue model

1. Retail Fuel Sales: Sale of petroleum products (petrol, diesel) through SPC's network of 40+ service stations across Singapore directly to individual consumers and fleet operators.
2. Refining: SPC holds 50% interest in Singapore Refining Company (SRC) with 290,000 barrels per day crude processing capacity. Production and supply of quality refined fuel products traded regionally and internationally.
3. Aviation Fuel: Supply of aviation fuels to international airlines at Singapore Changi Airport through CAFHI membership, plus marketing jet fuel to 30+ airlines across Taiwan, Thailand, and Cambodia.
4. Crude Oil and Refined Products Trading: Active trading of crude oil and refined products including naphtha, gasoline, gasoil, jet fuel, fuel oil, asphalt, LPG, sulphur and base oil across South East Asia, South Asia, Middle East, Australia and East Africa.
5. Commercial and Industrial Sales: Bulk supply of automotive diesel oil, marine gas oil, gasoline, LPG, and asphalt to transportation companies, government agencies, construction/manufacturing sectors, barging companies, and premix companies.
6. Lubricants: Sale of automotive, industrial, and marine lubricants under SYNACE, MOTEUR, FUSION, ADVANTE brands through SPC service stations and SpeedyCare automotive service centres.
7. Storage and Terminalling: Storage services at 220,000 cubic-metre Pulau Sebarok terminal supporting marine bunker operations and third-party customers. Products include fuel oil and gas oil stored on commingled or segregated basis.
8. Automotive Services: SpeedyCare automotive service centres offering oil change, tyre services, and vehicle maintenance packages. SPC manages 8 SpeedyCare centres across Singapore.

Pricing tiers

Go-to-market motion3 records

Distribution channels8 records

Marketing channels7 records

Core offering

Singapore Petroleum Company is a fully integrated oil and gas company spanning upstream exploration and production, refining, storage and terminalling, crude and refined product trading, and downstream retail through 40+ service stations, aviation fuel, lubricants, and commercial/industrial fuel supply.

Product overview

Singapore Petroleum Company (SPC) is an integrated oil and gas company operating as a platform of interconnected business units spanning the entire petroleum value chain. The core offerings include: retail fuel service stations (SPC Service Stations with Choices convenience stores, SpeedyCare automotive centres, and manual carwash services), loyalty programmes (SPC&U and PDVL/TDVL), refined petroleum products (LEVO fuel, SYNACE and MOTEUR lubricants), aviation fuels, commercial & industrial products, crude and refined products trading, exploration & production assets, refining (50% in SRC), and storage terminalling facilities. SPC+ App serves as the digital membership and rewards platform unifying the customer experience across all service stations.

Differentiator

Problem solved

Functional benefit

Brands

• SPC Service Stations: Retail fuel service stations network across Singapore offering petrol, diesel, and convenience services
• SPC LEVO
• Choices
• SpeedyCare
• SPC&U Programme
• PDVL/TDVL
• SPC+ App
• SYNACE
• MOTEUR
• VR2 System

Products and services

• SPC Service Stations Retail fuel service station network across Singapore (40+ stations) offering petrol, diesel, convenience stores, car wash, and automotive services for individual motorists and fleet operators.
• SPC+ App Mobile application providing exclusive fuel rewards, real-time pump prices, station locator, transaction history, and digital membership card for card-free convenience at SPC stations. Available on iOS and Android.
• SPC&U Programme Loyalty and rewards programme for SPC customers offering fuel discounts, promotions, and exclusive benefits, with digital membership via SPC+ App.
• PDVL/TDVL Programme Special loyalty programme for Petrol Diesel Vehicle License (PDVL) and Taxi Diesel Vehicle License (TDVL) licence holders offering exclusive discounts and privileges.
• SpeedyCare One-stop automotive service centres offering complete service packages including lube/oil change, tyre and rim services, and general consultation. SPC manages 8 SpeedyCare centres across Singapore.
• Choices Convenience Stores 24-hour convenience stores at all SPC service stations offering merchandise, beverages, snacks, and products from Old Chang Kee and Baker's Oven kiosks.
• SPC LEVO Fuel Improved petrol range (LEVO 98, LEVO 95, LEVO 92) formulated with deposit cleaning and friction-reduction technologies to clean engines, reduce friction, and improve fuel economy.
• SYNACE Motor Oils Range of fully synthetic and mineral motor oils (SYNACE Hybrid, Racing, Supreme, Ecostar) for passenger cars meeting API SP specifications, blended in Singapore under ISO 9001.
• MOTEUR Motorcycle Oils Range of 4-stroke and 2-stroke motorcycle oils (MOTEUR 4T SUPREME, RACING, ALPHA, SUPER) meeting API and JASO specifications.
• Aviation Fuels Aviation fuel sales and marketing with 40+ years experience. Member of CAFHI providing jet fuel at Singapore Changi Airport and marketing to 30+ airlines across Taiwan, Thailand, and Cambodia.
• Commercial & Industrial Products Bulk automotive diesel oil, marine gas oil, gasoline, liquid petroleum gas, and asphalt/bitumen supplied to transportation, industrial, construction, and marine sectors in Singapore.
• Trading Crude oil and refined products trading (naphtha, gasoline, gasoil, jet fuel, fuel oil, asphalt, LPG, sulphur, base oil) through a regional and international network covering Southeast Asia, South Asia, Middle East, Australia, and East Africa.
• Exploration & Production (E&P) Upstream oil and gas exploration and production with 8 Production Sharing Contracts, 1 exploration permit, and gas pipeline interests across Australia, Cambodia, China, Indonesia, and Vietnam.
• Refining 50% interest in Singapore Refining Company (SRC) Private Limited with 290,000 barrels/day crude oil processing capacity, producing quality refined fuel products with regional and international distribution.
• Storage & Terminalling 220,000 cubic-metre storage terminal at Pulau Sebarok with 13 tanks and deepwater jetty for tankers up to 160,000 tonnes, supporting marine bunker operations and trading.
• VR2 Vapour Recovery System 2nd Stage Vapour Recovery system installed at SPC service stations to reduce petrol vapour emissions during refuelling by channelling vapours back into underground storage tanks.
• Manual Carwash Network of 20 manual carwash outlets across Singapore with services including carwash, grooming, and tyre bay at select stations.
• SPC Lubricants (Business) Industrial lubricants including automotive, heavy duty diesel, compressor oils, hydraulic oils, gear oils, turbine oils, and greases for business customers.

Quantifiable outcome

• 290,000 barrels per day crude processing capacity through 50% stake in Singapore Refining Company
• +3 more outcomes

Named customers6 records

Segments6 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

AI capability7 records

Feature4 records

Partnerships

Twelve partnerships are on record, tiered core and minor.

• Changi Airport Fuel Hydrant Installation Company (CAFHI)coreStrategic or Co-development PartnerSPC is a member of Changi Airport Fuel Hydrant Installation Company (CAFHI), providing aviation fuels to international airlines at Singapore Changi Airport, one of the world's leading air hubs.
• CNOOCcoreStrategic or Co-development PartnerCNOOC operates Block 04/36 in Bohai Bay, China, where SPC holds 8.91% interest. Also operates the unitized area with 10.82% SPC interest. Production sharing contract area of 211.1 km2.
• Star EnergycoreStrategic or Co-development PartnerStar Energy operates the Kakap PSC in West Natuna Sea, Indonesia, where SPC holds 15% interest. Area of approximately 2,000 km2 for exploration and production.
• PetronascoreStrategic or Co-development PartnerPetronas operates Blocks 102 and 106 in Vietnam's Song Hong Basin, where SPC holds 22.86% interest. Area of approximately 224.54 km2 for development and production.
• SantoscoreStrategic or Co-development PartnerSantos operates the Sampang PSC offshore East Java, Indonesia, where SPC holds 40% interest. Area of 535.4 km2.
• Singapore Refining Company (SRC) Private LimitedcoreStrategic or Co-development PartnerSPC holds 50% interest in Singapore Refining Company (SRC) Private Limited. The refinery has 290,000 barrels per day crude processing capacity. Refined products are traded regionally and internationally.
• DBS BankminorGTM or Marketing PartnerCredit card partnership offering up to 15% total petrol savings at SPC with all DBS cards.
• POSB (DBS)minorGTM or Marketing PartnerCredit card partnership offering up to 20.1% petrol savings at SPC with POSB Everyday Card.
• United Overseas Bank (UOB)minorGTM or Marketing PartnerCredit card partnership offering up to 20% petrol savings at SPC with UOB Cards.
• American ExpressminorGTM or Marketing PartnerCredit card partnership offering up to 21% savings at SPC with American Express Cards.
• Wildlife Reserves SingaporeminorStrategic or Co-development PartnerSPC is the proud adopter of the Lion exhibit at Wildlife Reserves Singapore as part of efforts towards sustainable development and wildlife/environmental conservation.
• Kakap PSC ConsortiumcoreStrategic or Co-development PartnerConsortium of PSC blocks in West Natuna including Kakap PSC owns the 654-kilometre West Natuna Transportation System, the first Singapore cross border sub-sea gas pipeline.

Scale indicators7 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Shell Singapore: Shell's Singapore downstream operations include retail service stations, refining via the Shell Pulau Bukom refinery, and trading/bunker activities. Directly comparable to SPC's integrated Singapore downstream + refining business model, with overlapping retail presence and shared aviation fuel supply at Changi.
• ExxonMobil Asia Pacific: ExxonMobil operates refining at Jurong, retail service stations across Singapore, and regional trading/marketing. A direct integrated competitor to SPC across refining, retail, and trading, with similar aviation fuel and lubricants portfolios in the same geography.
• Chevron (Caltex) Singapore: Chevron's Caltex brand operates a major retail service station network and lubricant business across Singapore, competing head-to-head with SPC stations. Comparable in downstream retail focus, branded lubricants, and customer loyalty programmes targeting motorists in Singapore.

Broad incumbents

• PTT Public Company Limited: PTT is Thailand's national integrated oil & gas company with upstream E&P, refining, petrochemicals, retail service stations, and trading across Southeast Asia. Comparable integrated value chain model to SPC, including regional aviation fuel marketing and lubricants, with broader scale and additional petrochemicals exposure.
• S-Oil Corporation: S-Oil is a major South Korean refiner with ~580,000 bbl/day capacity, partly owned by Saudi Aramco. Comparable to SPC's refining scale and product slate, with trading into Asian markets including Singapore, though predominantly a refining/petchem player rather than a retail-led operator.
• Indian Oil Corporation: Indian Oil is India's largest integrated O&G company with refining, pipeline, E&P, retail, and trading operations. Comparable to SPC's vertically integrated structure and Asia trading reach, with much larger scale and broader product portfolio across South Asia.

Regional players

• Petron Malaysia: Petron operates an integrated downstream and retail business across Malaysia and the Philippines, including refining, lubricants, and convenience stores. Comparable to SPC in retail brand differentiation, lubricants portfolio, and Southeast Asia integrated model, though focused on Malaysian/Philippines geography.
• Hengyuan Refining Company Berhad: Hengyuan operates a 156,000 bbl/day refinery in Port Dickson, Malaysia, with refined product distribution across the region. Comparable to SPC's refining arm via SRC, with similar regional refined product trading flows, though no significant retail network of its own.

Emerging players

• Vivo Energy: Vivo Energy operates retail service stations and distributes petroleum products across Africa under the Shell brand. Comparable to SPC's downstream retail and lubricants model, including convenience stores at stations, though geographically focused on African markets rather than Asia.

Others

• Chinaoil (Singapore): Chinaoil (Singapore) is a PetroChina group entity sharing SPC's headquarters at Millenia Tower and active in regional oil trading and marketing. A sister company within the PetroChina group and directly relevant to SPC's trading and supply operations, though operating in an overlapping but distinct commercial role.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/singapore.spc

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Singapore Petroleum Company