Singapore has distinguished itself as one of the leading oil refining and petrochemicals players in Asia. Despite lacking indigenous hydrocarbons resources, it boasts thriving upstream as well as downstream sectors. Petrochemicals and refining remain the lifeblood of Singapore, with strong regional demand growth meaning there is potential for capacity expansion - although investment in countries such as China and Vietnam has led to increasingly fierce competition. With dedicated government backing, the chemicals industry as a whole has proved to be one of the largest contributors to the country's manufacturing output. A strong base in refining, availability of world-class infrastructure, cost-effective logistics and a location at the crossroads of Asia, with ready market access to the Asia-Pacific region, the US, the Middle East and Africa, set the pace for the development of a world-class petrochemicals industry. Major players include US-based ExxonMobil, Netherlandsheadquartered Royal Dutch Shell, Japanese Mitsui, Sumitomo Chemical Singapore (a wholly owned subsidiary of Japan's Sumitomo Chemical Company) and Eastman Chemical Singapore.

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