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Exxon in talks to buy Singapore refining complex

Published 04/05/2017, 09:58 AM
© Reuters.  Exxon in talks to buy Singapore refining complex
XOM
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  • Exxon Mobil (XOM +1.2%) says it is in talks to buy the Jurong Aromatics refining and petrochemical complex in Singapore that could increase its fuel and chemical production in Asia.
  • Jurong Aromatics, whose $2.4B condensate splitter and petrochemical units began operations in 2014, went into receivership in September 2015.
  • Singapore already is XOM's biggest paraxylene production base in the world at 1M metric tons/year, and the proposed acquisition would boost its paraxylene capacity to 1.8M tons/year and add another 2.5M tons/year of oil products output.


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