Asia/Pacific News
ExxonMobil Mulls Singapore Investment
Wednesday October 3, 2018
US oil major Exxonmobil could pour billions of dollars into its 592,000 barrels a day Singapore refinery to convert low value by products into cleaner higher value products, an executive has said.
Matt Bergeron, vice president of Asia Pacific Fuels Business at ExxonMobil, told the SIBCON conference that a multi-billion investment project was in the offing.
"Should the project proceed, we plan to implement proprietary technologies that will convert lower value by-products into cleaner higher value products including 0.5% sulphur fuels that we believe will be the compliant option for the vast majority of the marine sector," Bergeron said.
In September, the oil major announced significant investments at its refinery in the UK.
