ExxonMobil acquired one of the largest petrochemical complexes in the World

THE Jurong Island Petrochemical Hub (courtesy of Surbana Jurong)

THE Jurong Island Petrochemical Hub (courtesy of Surbana Jurong)

ExxonMobil Chemical Company announced today in a press statement that its Singapore affiliate has reached an agreement with Jurong Aromatics Corporation Pte Ltd to acquire its plant located on Jurong Island in Singapore.
The plant is one of the largest in the world with an annual production capacity of 1.4 million tonnes, and the the company expects to complete the transaction in the second half of 2017.
Singapore is home to ExxonMobil’s largest integrated refining and petrochemical complex, which has a crude oil processing capacity of 592,000 barrels per day and includes two world-scale steam crackers. Acquisition of the Jurong aromatics plant will increase ExxonMobil’s Singapore aromatics production to over 3.5 million tonnes per year, of which 1.8 million tonnes is paraxylene.
ExxonMobil has operated in Singapore almost since its foundation, 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.