ExxonMobil Completes Aromatics Buy
ExxonMobil’s Singapore affiliate has completed the acquisition of one of the world’s largest aromatics facilities on Singapore’s Jurong Island in Singapore. The project was announced in May of this year. The plant previously owned by Jurong Aromatics Corporation is located near ExxonMobil’s largest integrated refining and petrochemical complex, which produces 1.9vmillion t/y of ethylene and a processes barrels of crude oil per day.
The US oil and petrochemicals group said the acquisition will add operational and logistical synergies for both production sites, while at the same time lifting its own Singapore aromatics production to over 3.5 million t/y, including 1.8 million t of paraxylene, while adding about 65,000 barrels per day of transportation fuels capacity.
Karen McKee, senior vice president of basic chemicals, intermediates and synthetics for ExxonMobil said the strategic investment in the group’s aromatics business in Singapore is a reflection of its ongoing commitment to meet the growing global demand for chemical products, particularly in Asia-Pacific.
One of Singapore’s major integrated petrochemicals players, ExxonMobil has capability to process a wide range of feedstocks, from light gases to crude oil. Later this year, it will begin the phased start-up of new 230,000 t/y plant for specialty polymers, producing halobutyl rubber and performance resins for adhesive applications.