It has been informed that for few months the Royal Dutch Shell, a Singapore refinery, would remain closed. It has further been revealed that after reopening the company might not be able to meet with its commitments.

Singapore is regarded as largest trader of oil products as it exports 90% of its refinery products. It is believed that the few months of closure of Royal Dutch Shell would have a graver impact over the regional price of the crude oil.

It has been informed that the refinery is being shut down as it encountered a number of damages which are required to be repaired before commencing the business. According to the analysts, the refinery would be need more than few months from recovering from the devastating damages.

According to sources, the company didn’t give notice to its stakeholder about its intention of keeping the refinery closed for a while. Only two stakeholders affirmed that they did receive notice from the refinery.

The refinery is being closed down as it received damages from the fire which broke in on an island situated 5.5-kilometer away from the refinery on September 28 at around 1:15 pm.