Iswaran: Impact From Shell Fire On Economy Likely 'Minimal'

FoxBusiness.com, 20 Oct 2011
SINGAPORE -(Dow Jones)- A refinery fire at Royal Dutch Shell PLC's (RDSB) Bukom refinery in Singapore will likely have a "minimal impact" on the city-state's overall economy, Second Minister for Trade and Industry S. Iswaran said Thursday.
"While the refinery accounts for a significant portion of the chemicals cluster, the cluster as a whole accounts for less than 3% of Singapore's gross domestic product" and Shell's downstream plants can find other sources of feedstock, Iswaran, who is also a minister in the Prime Minister's Office, told a parliamentary hearing. Full story