ExxonMobil swoops for Singapore plant

Cornelia Mascio
Mag 19, 2017

About ExxonMobil Chemical CompanyExxonMobil Chemical Company is one of the largest petrochemical companies worldwide.

ExxonMobil Chemical Company announced today that its Singapore affiliate has reached an agreement with Jurong Aromatics Corporation Pte Ltd to acquire its plant located on Jurong Island in Singapore. It did not disclose the sum involved in the deal.

Singapore already houses XOM's largest refining and petrochemical complex. with a crude oil processing capacity of 592K bbl/day and two steam crackers.

The Singapore complex of ExxonMobil will commence the phased start-up of new specialty polymers facilities later this year.

The plant, one of the largest in the world with an annual production capacity of 1.4 million tonnes, presents operational and logistical synergies for ExxonMobil's integrated refining and petrochemical complex nearby.

Matthew Aguiar, senior vice president of basic chemicals, intermediates and synthetics, ExxonMobil, said: "As a leading global manufacturer of aromatics, the addition of this aromatics plant to our existing operations in Singapore will help us better serve our customers in key Asian growth markets". The US$2.4 billion (S$3.4 billion) facility on Jurong Island was forced to halt production for about 18 months in December that year, after running for just five months, to fix a technical issue.

In September 2015, JAC went into receivership as it struggled with debt problems in the face of a global commodity rout at that time, although it successfully restarted operations last July.

ExxonMobil said it is working to offer jobs to many qualified JAC employees.

In April, Exxon Mobil had said, "We can confirm that we are now negotiating with the receiver for Jurong Aromatics Corporation Pte Ltd to acquire JAC's assets on Jurong Island".

ExxonMobil has operated in Singapore for more than 120 years and is one of the country's largest global manufacturing investors. Singapore's integrated petrochemical complex can process a wide range of feedstocks, from light gases to crude oil. Out of this, 1.8 million tonnes of paraxylene is produced.

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