Singapore Petroleum Says Asian Demand to Slow on Subsidy Cut

By Nesa Subrahmaniyan

July 30 (Bloomberg) -- Singapore Petroleum Co., the only oil refiner traded on the city state's stock exchange, said Asia's growth in demand for oil products may slow because of cuts in fuel subsidies.

Chief Financial Officer Lee Chiang Huat said on a conference call that refiners' earnings from processing crude oil will be supported by demand in China and the Middle East.

To contact the reporter on this story: Nesa Subrahmaniyan in Singapore at nesas@bloomberg.net.