ADDRESSING TRUMP Levies
Singapore is a key global hub for energy and processing. More than 54, 000 buckets of gasoil and 8, 300 barrels of jet fuel were exported to Indonesia in the first four weeks of 2025.  ,
Bahlil Lahadalia, the minister of energy and mineral resources of Indonesia, predicted that the country could import up to 60 % of its total fuel from Singapore to the US in the early stages, according to Bahlil Lahadalia, last Friday ( May 9 ).  ,
In response to US President Donald Trump’s disciplinary taxes, Jakarta is considering increasing fuel imports from the US.  ,
Experts believe that the effect on Singapore’s business would be negligible despite this.  ,
Singapore is resourceful, according to John Driscoll, chairman of JTD Energy Services, a supplier of electricity market intelligence.  ,
He continued, referring to areas located south of the Suez Canal, adding that they have an infrastructure, refineries, storage facilities, storage terminals, support services, and that they are the main price point south of Suez.
” You have all of the major technology companies putting up agencies here, including Amazon, Google, and Facebook. Singapore is less dependent on oil, and I believe that is a purposeful choice on their part. They want to “diversify aside from relying on oil””.