J. Paul Getty
Jean Paul Getty, known as J. Paul Getty, was a naturalized British American petrol-industrialist, the patriarch of the Getty family, he founded the Getty Oil Company, in 1957 Fortune magazine named him the richest living American, while the 1966 Guinness Book of Records named him as the world's richest private citizen, worth an estimated $1.2 billion. At his death, he was worth more than $6 billion. A book published in 1996 ranked him as the 67th richest American who lived, based on his wealth as a percentage of the concurrent gross national product. Despite his vast wealth, Getty was famously frugal, notably negotiating his grandson's Italian kidnapping ransom in 1973. Getty was an avid collector of art and antiquities, his collection formed the basis of the J. Paul Getty Museum in Los Angeles and more than $661 million of his estate was left to the museum after his death, he established the J. Paul Getty Trust in 1953; the trust is the world's wealthiest art institution, operates the J. Paul Getty Museum Complexes: The Getty Center, The Getty Villa and the Getty Foundation, the Getty Research Institute, the Getty Conservation Institute.
Getty was born into a Scottish American family in Minneapolis, Minnesota, to Sarah Catherine McPherson and George Getty, an attorney in the insurance industry. Getty was raised as a Methodist by his parents, his father was a devout Christian Scientist and both were strict teetotalers. In 1903, when Getty was 10 years old, George Getty travelled to Bartlesville and bought the mineral rights for 1,100 acres of land. Within a few years Getty had established wells on the land which were producing 100,000 barrels of crude oil a month; as newly minted millionaires, the family moved to Los Angeles to escape the harsh Minnesota winters. At age 14, Getty attended Harvard Military School for a year, followed by Polytechnic High School, where he was given the nickname "Dictionary Getty" because of his love of reading, he became fluent in French and Italian. Getty was conversational in Spanish, Greek and Russian. A love of the classics led Getty to acquire reading proficiency in Latin, he enrolled at the University of Southern California at the University of California, but left both before obtaining a degree.
Enamored with Europe after traveling abroad with his parents in 1910, Getty enrolled at the University of Oxford on November 28, 1912. A letter of introduction by then-President of the United States William Howard Taft enabled him to gain independent instruction from tutors at Magdalen College. Although he was not registered at Magdalen, he claimed the aristocratic students "accepted me as one of their own" and he fondly boasted of the friends he made, including Edward VIII, the future King of the United Kingdom and Emperor of India, he obtained degrees in economics and political science from Oxford in June 1913 spent months traveling throughout Europe and Egypt before meeting his parents in Paris and returning with them to America in June 1914. In the autumn of 1914, George Getty gave his son $10,000 to invest in expanding the family's oil field holdings in Oklahoma; the first lot he bought, the Nancy Taylor No. 1 Oil Well Site near Haskell, Oklahoma was crucial to his early financial success.
The well struck oil in August 1915 and by the next summer the 40 percent net production royalty he accrued from it had made him a millionaire. In 1919, Getty returned to business in Oklahoma. During the 1920s, he added about $3 million to his sizable estate, his succession of marriages and divorces so distressed his father that Getty inherited only $500,000 of the $10 million fortune his father left at the time of his death in 1930. Getty was left with one-third of the stock from George Getty Inc. while his mother received the remaining two-thirds, giving her a controlling interest. In 1936, Getty's mother convinced him to contribute to the establishment of a $3.3 million investment trust, called the Sarah C. Getty Trust, to ensure the family's ever-growing wealth could be channeled into a tax-free, secure income for future generations of the Getty family; the trust enabled Getty to have easy access to ready capital, which he was funneling into the purchase of Tidewater Petroleum stock. Shrewdly investing his resources during the Great Depression, Getty acquired Pacific Western Oil Corporation and began the acquisition of the Mission Corporation, which included Tidewater Oil and Skelly Oil.
In 1967, Getty merged these holdings into Getty Oil. Beginning in 1949, Getty paid Ibn Saud $9.5 million in cash and $1 million a year for a 60-year concession to a tract of barren land near the border of Saudi Arabia and Kuwait, although no oil had been discovered there. Since 1953, Getty's gamble produced 16 million barrels a year, which contributed to the fortune responsible for making him one of the richest people in the world. Getty’s wealth and ability to speak Arabic enabled his unparalleled expansion into the Middle East. Getty owned the controlling interest in about 200 businesses, including Getty Oil. Getty owned Getty Oil, Getty Inc. George F. Getty Inc. Pacific Western Oil Corporation, Mission Corporation, Mission Development Company, Tidewater Oil, Skelly Oil, Mexican Seaboard Oil, Petroleum Corporation of America, Spartan Aircraft Company, Spartan Cafeteria Company, Minnehoma Insurance Company, Minnehoma Financial Company, Pierre Hotel, Pierre Marques Hotel, a 15th-century palace and nearby castle at Ladispoli on the coast northwest of Rome, a Malibu ranch home, Sutton Place, a 72-room mansion near Guildford, Surrey.
Getty moved to Britain in the 1950s and became a prominent admirer of England, its
The United States of America known as the United States or America, is a country composed of 50 states, a federal district, five major self-governing territories, various possessions. At 3.8 million square miles, the United States is the world's third or fourth largest country by total area and is smaller than the entire continent of Europe's 3.9 million square miles. With a population of over 327 million people, the U. S. is the third most populous country. The capital is Washington, D. C. and the largest city by population is New York City. Forty-eight states and the capital's federal district are contiguous in North America between Canada and Mexico; the State of Alaska is in the northwest corner of North America, bordered by Canada to the east and across the Bering Strait from Russia to the west. The State of Hawaii is an archipelago in the mid-Pacific Ocean; the U. S. territories are scattered about the Pacific Ocean and the Caribbean Sea, stretching across nine official time zones. The diverse geography and wildlife of the United States make it one of the world's 17 megadiverse countries.
Paleo-Indians migrated from Siberia to the North American mainland at least 12,000 years ago. European colonization began in the 16th century; the United States emerged from the thirteen British colonies established along the East Coast. Numerous disputes between Great Britain and the colonies following the French and Indian War led to the American Revolution, which began in 1775, the subsequent Declaration of Independence in 1776; the war ended in 1783 with the United States becoming the first country to gain independence from a European power. The current constitution was adopted in 1788, with the first ten amendments, collectively named the Bill of Rights, being ratified in 1791 to guarantee many fundamental civil liberties; the United States embarked on a vigorous expansion across North America throughout the 19th century, acquiring new territories, displacing Native American tribes, admitting new states until it spanned the continent by 1848. During the second half of the 19th century, the Civil War led to the abolition of slavery.
By the end of the century, the United States had extended into the Pacific Ocean, its economy, driven in large part by the Industrial Revolution, began to soar. The Spanish–American War and World War I confirmed the country's status as a global military power; the United States emerged from World War II as a global superpower, the first country to develop nuclear weapons, the only country to use them in warfare, a permanent member of the United Nations Security Council. Sweeping civil rights legislation, notably the Civil Rights Act of 1964, the Voting Rights Act of 1965 and the Fair Housing Act of 1968, outlawed discrimination based on race or color. During the Cold War, the United States and the Soviet Union competed in the Space Race, culminating with the 1969 U. S. Moon landing; the end of the Cold War and the collapse of the Soviet Union in 1991 left the United States as the world's sole superpower. The United States is the world's oldest surviving federation, it is a representative democracy.
The United States is a founding member of the United Nations, World Bank, International Monetary Fund, Organization of American States, other international organizations. The United States is a developed country, with the world's largest economy by nominal GDP and second-largest economy by PPP, accounting for a quarter of global GDP; the U. S. economy is post-industrial, characterized by the dominance of services and knowledge-based activities, although the manufacturing sector remains the second-largest in the world. The United States is the world's largest importer and the second largest exporter of goods, by value. Although its population is only 4.3% of the world total, the U. S. holds 31% of the total wealth in the world, the largest share of global wealth concentrated in a single country. Despite wide income and wealth disparities, the United States continues to rank high in measures of socioeconomic performance, including average wage, human development, per capita GDP, worker productivity.
The United States is the foremost military power in the world, making up a third of global military spending, is a leading political and scientific force internationally. In 1507, the German cartographer Martin Waldseemüller produced a world map on which he named the lands of the Western Hemisphere America in honor of the Italian explorer and cartographer Amerigo Vespucci; the first documentary evidence of the phrase "United States of America" is from a letter dated January 2, 1776, written by Stephen Moylan, Esq. to George Washington's aide-de-camp and Muster-Master General of the Continental Army, Lt. Col. Joseph Reed. Moylan expressed his wish to go "with full and ample powers from the United States of America to Spain" to seek assistance in the revolutionary war effort; the first known publication of the phrase "United States of America" was in an anonymous essay in The Virginia Gazette newspaper in Williamsburg, Virginia, on April 6, 1776. The second draft of the Articles of Confederation, prepared by John Dickinson and completed by June 17, 1776, at the latest, declared "The name of this Confederation shall be the'United States of America'".
The final version of the Articles sent to the states for ratification in late 1777 contains the sentence "The Stile of this Confederacy shall be'The United States of America'". In June 1776, Thomas Jefferson wrote the phrase "UNITED STATES OF AMERICA" in all capitalized letters in the headline of his "original Rough draught" of the Declaration of Independence; this draft of the document did not surface unti
Ministop Co. Ltd. a member of ÆON, operates the Ministop convenience store franchise chain in Japan. Unlike most other convenience stores in Japan, Ministop stores feature a kitchen that prepares sandwiches and take out bento boxes on demand, has a seating area where customers can sit down and eat immediately; the usual Japanese convenience store goods are available, such as magazines, manga comic books, soft drinks, onigiri. Ministop has its own unique brand of fast food; the menu varies according to periodical promotions. A typical selection might include hot dogs, frozen desserts such as soft serve ice cream, kariman and chūkaman—Siopao-style buns with various fillings. Ministop operates in South Korea, the Philippines, China and Kazakhstan. Media related to Ministop at Wikimedia Commons Official website Ministop Philippines
Kuwait the State of Kuwait, is a country in Western Asia. Situated in the northern edge of Eastern Arabia at the tip of the Persian Gulf, it shares borders with Iraq and Saudi Arabia; as of 2016, Kuwait has a population of 4.5 million people: 1.3 million are Kuwaitis and 3.2 million are expatriates. Expatriates account for 70% of the population. Oil reserves were discovered in commercial quantities in 1938. From 1946 to 1982, the country underwent large-scale modernization. In the 1980s, Kuwait experienced a period of geopolitical instability and an economic crisis following the stock market crash. In 1990, Kuwait was invaded, annexed, by Saddam's Iraq; the Iraqi occupation of Kuwait came to an end in 1991 after military intervention by a military coalition led by the United States. Kuwait is a major non-NATO ally of the United States, it is a major ally of ASEAN, while maintaining a strong relationship with China. Kuwait is a constitutional sovereign state with a semi-democratic political system.
Kuwait has a high-income economy backed by the world's sixth largest oil reserves. The Kuwaiti dinar is the highest valued currency in the world. According to the World Bank, the country has the fourth highest per capita income; the Constitution was promulgated in 1962. Kuwait is home to the largest opera house in the Middle East; the Kuwait National Cultural District is a member of the Global Cultural Districts Network. In 1613, the town of Kuwait was founded in modern-day Kuwait City. Administratively, it was a sheikhdom, ruled by local sheikhs. In 1716, the Bani Utub settled in Kuwait, which at this time was inhabited by a few fishermen and functioned as a fishing village. In the eighteenth century, Kuwait prospered and became the principal commercial center for the transit of goods between India, Muscat and Arabia. By the mid 1700s, Kuwait had established itself as the major trading route from the Persian Gulf to Aleppo. During the Persian siege of Basra in 1775–79, Iraqi merchants took refuge in Kuwait and were instrumental in the expansion of Kuwait's boat-building and trading activities.
As a result, Kuwait's maritime commerce boomed, as the Indian trade routes with Baghdad, Aleppo and Constantinople were diverted to Kuwait during this time. The East India Company was diverted to Kuwait in 1792; the East India Company secured the sea routes between Kuwait and the east coasts of Africa. After the Persians withdrew from Basra in 1779, Kuwait continued to attract trade away from Basra. Kuwait was the center of boat building in the Persian Gulf region. During the late eighteenth and nineteenth centuries, vessels made in Kuwait carried the bulk of trade between the ports of India, East Africa and the Red Sea. Kuwaiti ships were renowned throughout the Indian Ocean. Regional geopolitical turbulence helped foster economic prosperity in Kuwait in the second half of the 18th century; the biggest catalyst for much of Kuwait becoming prosperous was due to Basra's instability in the late 18th century. In the late 18th century, Kuwait functioned as a haven for Basra's merchants, who were fleeing Ottoman government persecution.
Kuwaitis developed a reputation as the best sailors in the Persian Gulf. In the 1890s, Kuwait began to feel threatened by the Ottoman empire. In a bid to address its security issues, the ruler, Sheikh Mubarak Al Sabah signed an agreement with the British government in India, subsequently known as the Anglo-Kuwaiti Agreement of 1899 and became a British protectorate; the Sheikhdom of Kuwait remained a British protectorate from 1899. Following the Kuwait–Najd War of 1919–20, Ibn Saud imposed a trade blockade against Kuwait from the years 1923 until 1937; the goal of the Saudi economic and military attacks on Kuwait was to annex as much of Kuwait's territory as possible. At the Uqair conference in 1922, the boundaries of Kuwait and Najd were set. Ibn Saud persuaded Sir Percy Cox to give him two-thirds of Kuwait's territory. More than half of Kuwait was lost due to Uqair. After the Uqair conference, Kuwait was still subjected to a Saudi economic blockade and intermittent Saudi raiding; the Great Depression harmed Kuwait's economy.
International trading was one of Kuwait's main sources of income before oil. Kuwaiti merchants were intermediary merchants; as a result of the decline of European demand for goods from India and Africa, Kuwait's economy suffered. The decline in international trade resulted in an increase in gold smuggling by Kuwaiti ships to India; some Kuwaiti merchant families became rich from this smuggling. Kuwait's pearl industry collapsed as a result of the worldwide economic depression. At its height, Kuwait's pearl industry had led the world's luxury market sending out between 750 and 800 ships to meet the European elite's desire for pearls. During the economic depression, luxuries like pearls were in little demand; the Japanese invention of cultured pearls contributed to the collapse of Kuwait's pearl industry. Historian Hanna Batatu explains how the British threatened to take the Kurdish area and Mosul out of Iraq provided that King Faisal granted Britain control of the oil in the region. In 1938 the Kuwaiti Legislative Council unanimously approved a request for Kuwait’s reintegration with Iraq.
A year an armed uprising which had raised the integration banner as its objective was put down by the British. With the end of the world war, increasing need for oil across the world, Kuwait experienced a period of prosperity driven by oil and its liberal atmosphere; the period
American Broadcasting Company
The American Broadcasting Company is an American commercial broadcast television network, a flagship property of Walt Disney Television, a subsidiary of the Disney Media Networks division of The Walt Disney Company. The network is headquartered in Burbank, California on Riverside Drive, directly across the street from Walt Disney Studios and adjacent to the Roy E. Disney Animation Building, But the network's second corporate headquarters and News headquarters remains in New York City, New York at their broadcast center on 77 West 66th Street in Lincoln Square in Upper West Side Manhattan. Since 2007, when ABC Radio was sold to Citadel Broadcasting, ABC has reduced its broadcasting operations exclusively to television; the fifth-oldest major broadcasting network in the world and the youngest of the Big Three television networks, ABC is nicknamed as "The Alphabet Network", as its initialism represents the first three letters of the English alphabet, in order. ABC launched as a radio network on October 12, 1943, serving as the successor to the NBC Blue Network, purchased by Edward J. Noble.
It extended its operations to television in 1948, following in the footsteps of established broadcast networks CBS and NBC. In the mid-1950s, ABC merged with United Paramount Theatres, a chain of movie theaters that operated as a subsidiary of Paramount Pictures. Leonard Goldenson, the head of UPT, made the new television network profitable by helping develop and greenlight many successful series. In the 1980s, after purchasing an 80 percent interest in cable sports channel ESPN, the network's corporate parent, American Broadcasting Companies, Inc. merged with Capital Cities Communications, owner of several print publications, television and radio stations. In 1996, most of Capital Cities/ABC's assets were purchased by The Walt Disney Company; the television network has eight owned-and-operated and over 232 affiliated television stations throughout the United States and its territories. Some of the ABC-affiliated stations can be seen in Canada via pay-television providers, certain other affiliates can be received over-the-air in areas within the Canada–United States border.
ABC News provides news and features content for select radio stations owned by Citadel Broadcasting, which purchased the ABC Radio properties in 2007. In the 1930s, radio in the United States was dominated by three companies: the Columbia Broadcasting System, the Mutual Broadcasting System, the National Broadcasting Company; the last was owned by electronics manufacturer Radio Corporation of America, which owned two radio networks that each ran different varieties of programming, NBC Blue and NBC Red. The NBC Blue Network was created in 1927 for the primary purpose of testing new programs on markets of lesser importance than those served by NBC Red, which served the major cities, to test drama series. In 1934, Mutual filed a complaint with the Federal Communications Commission regarding its difficulties in establishing new stations, in a radio market, being saturated by NBC and CBS. In 1938, the FCC began a series of investigations into the practices of radio networks and published its report on the broadcasting of network radio programs in 1940.
The report recommended that RCA give up control of either NBC NBC Blue. At that time, the NBC Red Network was the principal radio network in the United States and, according to the FCC, RCA was using NBC Blue to eliminate any hint of competition. Having no power over the networks themselves, the FCC established a regulation forbidding licenses to be issued for radio stations if they were affiliated with a network which owned multiple networks that provided content of public interest. Once Mutual's appeals against the FCC were rejected, RCA decided to sell NBC Blue in 1941, gave the mandate to do so to Mark Woods. RCA converted the NBC Blue Network into an independent subsidiary, formally divorcing the operations of NBC Red and NBC Blue on January 8, 1942, with the Blue Network being referred to on-air as either "Blue" or "Blue Network"; the newly separated NBC Red and NBC Blue divided their respective corporate assets. Between 1942 and 1943, Woods offered to sell the entire NBC Blue Network, a package that included leases on landlines, three pending television licenses, 60 affiliates, four operations facilities, contracts with actors, the brand associated with the Blue Network.
Investment firm Dillon, Read & Co. offered $7.5 million to purchase the network, but the offer was rejected by Woods and RCA president David Sarnoff. Edward J. Noble, the owner of Life Savers candy, drugstore chain Rexall and New York City radio station WMCA, purchased the network for $8 million. Due to FCC ownership rules, the transaction, to include the purchase of three RCA stations by Noble, would require him to resell his station with the FCC's approval; the Commission authorized the transaction on October 12, 1943. Soon afterward, the Blue Network was purchased by the new company Noble founded, the American Broadcasting System. Noble subsequently acquired the rights to the American Broadcasting Company name from George B. Storer in 1944. Meanwhile, in August 1944, the West Coast division of the Blue Network, which owned San Francisco radio station KGO, bought Los Angeles station KECA f
Saudi Arabia the Kingdom of Saudi Arabia, is a country in Western Asia constituting the bulk of the Arabian Peninsula. With a land area of 2,150,000 km2, Saudi Arabia is geographically the largest sovereign state in the Middle East, the second-largest in the Arab world, the fifth-largest in Asia, the 12th-largest in the world. Saudi Arabia is bordered by Jordan and Iraq to the north, Kuwait to the northeast, Qatar and the United Arab Emirates to the east, Oman to the southeast and Yemen to the south, it is the only nation with both a Red Sea coast and a Persian Gulf coast, most of its terrain consists of arid desert and mountains. As of October 2018, the Saudi economy was the largest in the Middle East and the 18th largest in the world. Saudi Arabia enjoys one of the world's youngest populations; the territory that now constitutes Saudi Arabia was the site of several ancient cultures and civilizations. The prehistory of Saudi Arabia shows some of the earliest traces of human activity in the world.
The world's second-largest religion, emerged in modern-day Saudi Arabia. In the early 7th century, the Islamic prophet Muhammad united the population of Arabia and created a single Islamic religious polity. Following his death in 632, his followers expanded the territory under Muslim rule beyond Arabia, conquering huge and unprecedented swathes of territory in a matter of decades. Arab dynasties originating from modern-day Saudi Arabia founded the Rashidun, Umayyad and Fatimid caliphates as well as numerous other dynasties in Asia and Europe; the area of modern-day Saudi Arabia consisted of four distinct regions: Hejaz and parts of Eastern Arabia and Southern Arabia. The Kingdom of Saudi Arabia was founded in 1932 by Ibn Saud, he united the four regions into a single state through a series of conquests beginning in 1902 with the capture of Riyadh, the ancestral home of his family, the House of Saud. Saudi Arabia has since been a totalitarian absolute monarchy a hereditary dictatorship governed along Islamist lines.
The ultraconservative Wahhabi religious movement within Sunni Islam has been called "the predominant feature of Saudi culture", with its global spread financed by the oil and gas trade. Saudi Arabia is sometimes called "the Land of the Two Holy Mosques" in reference to Al-Masjid al-Haram and Al-Masjid an-Nabawi, the two holiest places in Islam; the state's official language is Arabic. Petroleum was discovered on 3 March 1938 and followed up by several other finds in the Eastern Province. Saudi Arabia has since become the world's second largest oil producer and the world's largest largest oil exporter, controlling the world's second largest oil reserves and the sixth largest gas reserves; the kingdom is categorized as a World Bank high-income economy with a high Human Development Index and is the only Arab country to be part of the G-20 major economies. The state has attracted criticism for a multitude of reasons including but not limited to: its archaic treatment of women, its excessive and extrajudicial use of capital punishment, state-sponsored discrimination against religious minorities and atheists, its role in the Yemeni Civil War, sponsorship of Islamic terrorists, its strict interpretation of Sharia Law.
An autocratic monarchy, the kingdom has the world's third-highest military expenditure and, according to SIPRI, was the world's second largest arms importer from 2010 to 2014. Saudi Arabia is considered a middle power. In addition to the GCC, it is an active member of the Organisation of Islamic Cooperation and OPEC. Following the unification of the Hejaz and Nejd kingdoms, the new state was named al-Mamlakah al-ʻArabīyah as-Suʻūdīyah by royal decree on 23 September 1932 by its founder, Abdulaziz Al Saud. Although this is translated as "the Kingdom of Saudi Arabia" in English, it means "the Saudi Arab kingdom", or "the Arab Saudi Kingdom"; the word "Saudi" is derived from the element as-Suʻūdīyah in the Arabic name of the country, a type of adjective known as a nisba, formed from the dynastic name of the Saudi royal family, the Al Saud. Its inclusion expresses the view. Al Saud is an Arabic name formed by adding the word Al, meaning "family of" or "House of", to the personal name of an ancestor.
In the case of the Al Saud, this is the father of the dynasty's 18th-century founder, Muhammad bin Saud. There is evidence that human habitation in the Arabian Peninsula dates back to about 125,000 years ago, it is now believed that the first modern humans to spread east across Asia left Africa about 75,000 years ago across the Bab-el-Mandeb connecting the Horn of Africa and Arabia. The Arabian peninsula is regarded as a central figure in our understanding of hominin evolution and dispersals. Arabia underwent an extreme environmental fluctuation in the Quaternary that led to profound evolutionary and demographic changes. Arabia has a rich Lower Paleolithic record, the quantity of Oldwan-like sites in the region indicate a significant role that Arabia had played in the early hominin colonization of Eurasia. In the Neolithic period, prominent cultures such as al-Magar whose epicenter lay in mod
Singapore Petroleum Company
Singapore Petroleum Company Limited is a Singaporean oil company. SPC is involved in the exploration and production of petroleum, refining and petroleum product distribution; the company was founded in 1969 as the Singapore Chemical Co.. Pte Ltd and changed its name to the Singapore Petroleum Company Ltd; the company is a part owner of Singapore Refining Company Pte Ltd, founded in 1979. SPC's presence and profile in the regional E&P sector has grown with the acquisition of assets over the years; these assets include Block B in Cambodia, the Kakap Production Sharing Contract and the Sampang PSC in Indonesia, Blocks 102 and 106, Block 101-100/04 in Vietnam, Block T06-3 in Australia. In 2007, they expanded their assets to China with 3 additional blocks, 04/36 & 05/36 in Bohai Bay and Blk 26/28, offshore China. In the pipeline business, SPC holds interests in three regional gas transmission pipelines; the 654-kilometre West Natuna Transportation System is the first Singapore cross border sub-sea gas pipeline carrying gas from the West Natuna Sea to Singapore.
A consortium of PSC blocks in West Natuna including the Kakap PSC owns this pipeline. The 468-kilometre Grissik-Batam-Singapore Pipeline is the second direct gas pipeline transmitting gas from Indonesia to Singapore. Gas to Singapore commenced in 2003 under a 20-year term contract between Indonesia; the 536-kilometre Grissik-Duri Pipeline is a trunk line that transmit gas from the Grissik gas fields to Caltex's Duri facilities under long term contracts that commenced in 1998. SPC, with equal partner Caltex, owns half of the 285,000 barrels per day Singapore Refining Company plant, a complex refinery capable of cracking crude oil; the refining of crude oil to petroleum products remains central to the Group's operations. Given the complexity of its refining facilities, SPC is able to refine heavy and light crudes. SPC buys crudes from some 13 countries with the bulk of its supplies coming from the Middle East; the API gravity of these crudes range from 18 to 45. In 2006, the Group processed more than 51 million barrels of crudes through SRC, its jointly-owned refinery on Jurong Island.
The Company owns a storage terminal for petroleum products at Pulau Sebarok to support its marine bunker operations and trading and marketing activities. The 220,000 cubic metres terminal consisting of 13 tanks is equipped with a deepwater jetty up to 160,000 tonnes displacement; the trading unit trades in a variety of distillate and residual products which include Naphtha, Automotive Diesel Oil, Jet Fuel and Fuel Oil. The Aviation Sales unit markets and supplies aviation fuel to airlines at four international airports in Singapore, Hong Kong and Taipei. SPC is a supplier of aviation fuel in the Asia-Pacific region; the Distillates unit is responsible for the sales and trading of naphtha, motor gasoline and jet fuel. The Residue unit is responsible for fuel oil marine sales activities. Fuel oil of various specifications, including standard bunker grades, is sourced directly from SRC as well as from the Group's extensive network of global oil traders. In 2006, more than 74.1 million barrels of crude and refined petroleum products were handled in these downstream product channels.
Of this volume more than 50.0 million barrels were products sourced directly from SRC with the balance of more than 24.0 million barrels sourced from the Group's extensive network of oil majors, multinational oil traders and national oil companies. Marketing BU is organised into five key units, namely Market Development and New Ventures, Retail Sales and Development, Commercial Sales, Lubricant Sales, Operations and Logistics. Retail Sales and Development include a network of 39 service stations in Singapore, 28 of which were taken over from BP when BP was exiting the retail business in Asia; the Commercial Sales and Lubricant Sales units market petroleum products, special products and lubricants to commercial and wholesale markets domestically and regionally. These include Naphtha, Liquefied Petroleum Gas, Motor Gasoline, Industrial Diesel/Automotive Diesel Oil and Asphalt. Singapore Petroleum Company or SPC was delisted from the Singapore Exchange on 22 October 2009 when Chinese oil giant PetroChina completed its takeover of the Singapore firm.
Source: http://www.channelnewsasia.com/stories/singaporebusinessnews/view/1012767/1/.html https://web.archive.org/web/20110927183034/http://www.spc.com.sg/attachments/2009/SQ0W7N08Z475OK2T0BARRT5ZFWPQ8Q.pdf Official website Additional Research Notes on SPC Limited