- Shell PLC (NYSE:SHEL) has reportedly cut crude oil imports at its Singapore refinery this month for maintenance work and repairs at its single buoy mooring (SBM) facility.
- Shell is moving crude from Very Large Crude Carriers (VLCC) onto smaller Aframax tankers through ship-to-ship transfers before discharging them at another jetty on Pulau Bukom, Reuters reported.
- Pulau Bukom is the island south of Singapore where the refinery is located.
- The maintenance work involves temporarily removing the mooring buoy subsea hose, pile anchor installation, recovery and installation of chain, and reinstalling the mooring buoy and subsea hose, data from the Maritime and Port Authority of Singapore showed.
- Meanwhile, the company will rely on smaller tankers.
- The Reuters report added that Shell declined to comment on the matter, citing commercial confidentiality.
- Also Read: Shell Collaborates With AI Technology Firm To Reduce Exploration Days: Report
- Price Action: SHEL shares are trading higher by 0.75% at $60.48 premarket on the last check Tuesday.
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