Singapore is considered as the hub of oil industry in Asia. The small, yet one of the most profitable islands in the region, earns about 5% of its GDP (gross development product) from oil and gas industry. One of the largest companies is Kernel Oil Pte. Ltd. that was established in Singapore in 2006 and founded and owned by Widodo Ratanachaithong. Mr. Widodo Ratanachaithong, originally from Sri Lanka, is a renowned and successful businessman worldwide. His unmatched talent, tremendous knowledge and professional experience for trading petroleum products places him in a strong lead over other competing rivals.
Gradually and profitably, the company has expanded in the nearby region, including Thailand, Australia, Indonesia, and as far as Africa and even some of the Mediterranean regions. The firm not only deals in the crude oil, but various other products like the natural gas, paraffin wax, green coke and numerous other lubricants are also being offered by the company. However, the most paramount product of this company is palm kernel oil which is extracted from palm oil. This oil is, in turn, used in the production of two different kinds of oils. Oil palm is extracted from a tree called the palmist, which is found in abundance in Singapore. This oil then goes through a series of many comprehensive procedures. Fruit from the palmist tree is used to separate all the parts from each other like fruit fiber, nut shell and free moisture. Then the nut shell is used to produce the oil which can be utilized. This oil is yellow or white in color with a considerable flavorful taste and aroma. It contains iodine of about 14 to 21% and lauric acid of about 40%. This kernel palm oil comes in handy in the production of many products like beauty products, soaps, cosmetics and foodstuffs such as butter, ghee and chocolate.
The most critical issue that needs consideration in the milieu of the petroleum industry is that of environmental practices that should be followed as per the regulations and ensure that they do not cause any harm to the third parties, i.e. any individual or the environment. However, as per the records of the firm KernelOil, Widodo Ratanachaithong makes sure that these practices are being strictly maintained by the company and a clear and conscious environmental system has been retained and overseen by the owner and managing director himself. He has managed to successfully sustain the entire system in a way that never crosses the confines defined by the environmental legislation and has also trained the staff in a pertinent way so as to adhere by the policies.
The company takes advantage of the technology as well as explores operational opportunities with the help of latest innovations to maintain its lead among other competitors. They are very well aware of the fact that they have created a monopoly in the petroleum sector of Singapore and it is highly improbable for any competitor to evolve at this level. However, they do believe that their carefully thought-out investment in every aspect of the business will pay them off.