This incentivises oil majors and national oil companies to continue focusing on the downstream segment, in particular, petrochemicals, retail and lubricants, it adds.
SINGAPORE (Feb 27): Amid lower transaction activity and valuation in the oil and gas industry, Singapore continues to be an attractive location for oil companies looking to set up streamlined trading functions, according to EY.
This is because the country sits in a region that is a consumption hub, it says.
