JURONG ROCK CAVERNS
Adani Ports makes $3.3 billion play for Evos Terminals
Adani Ports has submitted a binding $3.3 billion bid for Evos Terminals, a European liquid-storage operator with eight terminals across five countries, as it looks to expand overseas and build exposure to energy-transition infrastructure. The move follows APSEZ’s unsuccessful bid for Associated British Ports and reflects a broader push into global ports, container assets and liquid terminals.
Saudi Arabia to store crude oil in Singapore from second half of 2027
Saudi Arabia has announced its intention to store crude oil in Singapore's Jurong Rock Caverns by 2027. This arrangement will enhance the resilience of the Saudi crude oil supply chain in Southeast Asia. Additionally, it will contribute to Singapore's energy security amid potential supply disruptions. A memorandum of understanding will be signed between Saudi Aramco and local authorities to formalize this agreement.
