ExxonMobil Celebrates Singapore Chemical Plant Expansion
*New facility uniquely positioned to serve growth markets in Asia-Pacific
*Two-thirds of global chemical demand expected to come from region
*Singapore now hosts about one-quarter of ExxonMobil’s chemical production
SINGAPORE -- January 7, 2014
ExxonMobil reinforced its long-term supply commitment to the fast-growing
Asia-Pacific market today during an event celebrating the expansion of its
Singapore chemical production facility.
“Global chemical demand will grow at a faster pace than GDP as people seek
higher standards of living and purchase more household and packaged goods
manufactured with chemical products,” Rex W. Tillerson, Exxon Mobil
Corporation (NYSE:XOM) chairman and chief executive officer, said at the
“Two-thirds of that growth in chemical demand will be here in the Asia-Pacific
region. ExxonMobil’s expanded Singapore chemical plant is uniquely positioned
to serve these growth markets – from China to the Indian subcontinent and
ExxonMobil’s expansion project doubled the size of its finished product
capacity in Singapore, making it the largest chemical expansion in the
The Singapore chemical facility, which now accounts for about one-quarter of
ExxonMobil’s global chemical capacity, incorporates more than 40 new
proprietary technologies and is designed to be one of ExxonMobil’s most energy
efficient and flexible sites. For example, a new steam cracker can process an
unprecedented range of feedstock, from light gases to crude oil, to produce an
expanded slate of premium and commodity petrochemicals.
Tillerson noted that the foundation for the advancements at the Singapore
complex were established decades ago and strengthened through the company’s
relationships with and respect for the people and nation of Singapore.
“Government leaders here wisely pursued a stable policy course that encouraged
international investment, teamwork and advanced technologies,” Tillerson said.
Leo Yip, chairman of the Singapore Economic Development Board, said, “The
official opening of ExxonMobil’s Singapore Chemical Plant Expansion enhances
Singapore’s leadership position as Asia’s energy and chemicals hub. This
latest investment – the single largest manufacturing investment in Singapore’s
history – is testament to our ability to successfully attract and execute
complex mega-projects. The expansion of ExxonMobil’s chemical plant will
create meaningful and exciting career opportunities for Singaporeans and also
enable Singapore to broaden our chemicals industry with higher-value
downstream chemical facilities.”
Png Cheong Boon, CEO, JTC Corporation, said, “The opening of ExxonMobil’s
chemical plant is a testimony of the excellent infrastructure on Jurong Island
and the strong partnership with ExxonMobil. We remain committed to work with
the industry to ensure that Jurong Island remains a key energy and chemical
hub in the region.”
Tillerson said that Singapore’s leadership has built a nation that promotes
openness, transparency and free trade that enable progress through the
exchange of talent, goods, services and ideas.
ExxonMobil has operated in Singapore for 120 years and is one of the country’s
largest foreign manufacturing investors. The company employs 2,000 people at
its refining and chemical production complex in Singapore. ExxonMobil
cogeneration facilities, with capacity of 360 megawatts, meet the steam and
electricity needs of the manufacturing complex, resulting in lower operating
costs and reduced greenhouse gas emissions.
Statements relating to future plans, projections, events or conditions are
forward-looking statements. Actual results, including project plans,
capacities, and impacts as well as demand growth and mix, could differ
materially due to factors including: changes in oil, gas or petrochemical
prices or other market or economic conditions affecting the oil, gas and
petrochemical industries, including the scope and duration of economic
recessions; changes in law or government regulation, including tax and
environmental requirements; the outcome of commercial negotiations; changes in
technical or operating conditions; and other factors discussed under the
heading "Factors Affecting Future Results" in the “Investors” section of our
website and in Item 1A of ExxonMobil's 2012 Form 10-K. We assume no duty to
update these statements as of any future date. The term “project” as used in
this release does not necessarily have the same meaning as under SEC Rule
13q-1 relating to government payment reporting.
ExxonMobil, the largest publicly traded international oil and gas company,
uses technology and innovation to help meet the world’s growing energy needs.
ExxonMobil holds an industry-leading inventory of resources; is the largest
refiner and marketer of petroleum products; and its chemical company is one of
the largest in the world. For more information, visit www.exxonmobil.com or
follow us on Twitter www.twitter.com/exxonmobil.
About ExxonMobil in Singapore
ExxonMobil is one of Singapore’s largest foreign manufacturing investors. Our
Singapore affiliate, ExxonMobil Asia Pacific Pte Ltd, (EMAPPL) has
manufacturing facilities which include refinery operations in Jurong and a
world-scale petrochemical plant on Jurong Island.
EMAPPL has Singapore’s largest network of service stations under the Esso
brand and is a major supplier of cylinder cooking gas. EMAPPL also serves the
commercial market with its industrial, aviation and marine fuels and
lubricants. As a corporation, ExxonMobil is committed to addressing the
challenge of sustainability – balancing economic growth, social development
and environmental protection. In line with those strategies, ExxonMobil and
EMAPPL contribute to programs in Singapore that support the arts and
education, the community and the environment. For more information, please
ExxonMobil Asia Pacific Pte Ltd (Singapore)
Karen Wong, (+65) 6885-8275, (+65) 9652-7198
Corporate Media Line (USA)
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