Exxon: downstream upgrade. File Image / Pixabay.
Oil major ExxonMobil is to upgrade production facilities for low sulfur fuel oil and marine lubricants in Singapore.
The upgrade project will enable the refinery to increase production of cleaner fuels that meet the IMO2020 requirement for 0.5% sulfur fuel oil, Reuters reports.
As well as cleaner fuels, Exxon's Singapore Resid Upgrade project will see the production of higher-value lubricant base stocks.
The company will produce a new product suitable for lubricants that require "extra high viscosity, low temperature performance, high oxidation stability, high viscosity index, and a high flashpoint" including for marine lubricants, according to the report.
Investment for the refinery was first announced in 2019. The work will be complete by 2025. The company's Jurong island plant has a 592,000 barrels a day processing capacity.