ExxonMobil has announced a multibillion-dollar development of its integrated manufacturing complex on Jurong Island, Singapore.
Once the expansion is complete, ExxonMobil will be able to convert crude products like fuel oil into more lucrative distillates and base stocks for industrial lubricants like Mobil DTE 24.
Chan Chun Sing, Singapore’s Minister for Trade and Industry, said in a Facebook post that ExxonMobil’s decision demonstrated the oil major’s ongoing confidence in the island city-state’s petrochemical industry. He also added:
“Singapore’s strong and trusted brand name, skilled work force and pro-enterprise environment have allowed us to distinguish ourselves from the competition and remain attractive to major foreign investors. We will continue working closely with all stakeholders to develop a diverse and vibrant economy for the benefit of Singaporeans.”
The president of ExxonMobil Fuels & Lubricants Company, Bryan Milton, said that as the global economy grows, there will be an increasing demand for lubricants and high-quality fuels. He added that the complex’s competitiveness will be enhanced through process technologies and proprietary catalysts, helping to meet this growing demand.
The expanded complex will be able to produce an extra 48,000 bpd (barrels per day) of cleaner fuels with a lower sulphur content, such as those that will meet the 0.50% sulphur requirement set down by the International Maritime Organization. The complex will also be capable of outputting an additional 20,000 barrels a day of ExxonMobil’s Group II base stock oil.
Early activities for the expansion have already begun, with the expansion expected to be operational in 2023.