Singapore: Aromatics Production Exxon Mobil Acquires Jurong Aromatics Corporation Plant in Singapore
Exxon Mobil Chemical Company's Singapore affiliate has completed the acquisition of one of the world’s largest aromatics facilities on Jurong Island in Singapore. The acquisition was first announced in May 2017.
Houston/USA — The facility, previously owned by Jurong Aromatics Corporation, is located near the oil company's largest integrated refining and petrochemical complex, which has an ethylene production capacity of 1.9 million tonnes per year and a crude oil processing capacity of 592,000 barrels per day.
Both companies expect operational and logistical synergies from the transaction. It will also increase Exxon Mobil’s Singapore aromatics production to over 3.5 million tonnes per year, including 1.8 million tonnes of paraxylene, and add about 65,000 barrels per day of transportation fuels capacity.
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The US company has operated in Singapore for more than 120 years and is one of the country’s largest international manufacturing investors. Singapore’s integrated petrochemical complex can process a wide range of feedstocks, from light gases to crude oil.
Later this year, the complex will begin the phased start-up of new 230,000 tonne-per-year specialty polymers facilities that will produce halobutyl rubber and performance resins for adhesive applications.
The company’s growth in Singapore is driven by the expected increase in global demand for chemical products over the next decade of approx. 45 %, or about 4 % per year, which is a faster pace than energy demand and economic growth. Nearly three-quarters of the increased demand is expected to be in Asia Pacific as a result of its rising prosperity and a growing middle class.