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Disaggregation of Revenue
 12 Months Ended
Dec. 31, 2025
Disaggregation of Revenue [Abstract]  
DISAGGREGATION OF REVENUE

NOTE 3 — DISAGGREGATION OF REVENUE

 

The following tables present the Company’s revenue disaggregated by business and geographic segments, based on management’s assessment of available data:

 

   Financial years ended
December 31,		 
   2023   2024   2025 
   US$’000   US$’000   US$’000 
Revenue recognition at a single point in time:            
Sale of crude oil   252,070    169,472    182,574 
Sale of oil-based products   37,096    145,444    125,173 
    289,166    314,916    307,747 

 

In accordance with ASC 280, Segment Reporting (“ASC 280”), we have three reportable geographic segments. Sales are based on the countries in which the customer is located. Summarized financial information concerning our geographic segments is shown in the following tables:

 

   Financial years ended
December 31,		 
   2023   2024   2025 
   US$’000   US$’000   US$’000 
Southeast Asia   37,096    30,908    
—
 
East Asia   252,070    254,245    249,965 
Middle East   
—
    29,763    57,782 
    289,166    314,916    307,747