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Exxon buys Singapore petrochemical plant to help meet Asian demand

Published 05/11/2017, 08:21 AM
© Reuters.  Exxon buys Singapore petrochemical plant to help meet Asian demand
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  • Exxon Mobil (NYSE:XOM) agrees to buy a refining and petrochemical plant owned by Jurong Aromatics in Singapore that will boost its output and meet demand in Asia; no financial details of the purchase are provided.
  • The plant, which will be integrated with XOM's existing petroleum complex on Jurong Island, is expected to boost the company's aromatics production in Singapore to more than 3.5M metric tons/year, including 1.8M metric tons/year of paraxylene, a raw material for textiles and bottles.
  • Singapore already houses XOM's largest refining and petrochemical complex. with a crude oil processing capacity of 592K bbl/day and two steam crackers.
  • Now read: Exxon Mobil's Q1 Profit Surges


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