Exxon Mobil Eyes Major Investment at Singapore Refinery

By Roslan Khasawneh
Wednesday, October 3, 2018

Exxon Mobil Corp is considering a multi-billion dollar investment at its Singapore refinery, the company's largest, ahead of new global shipping fuel regulations starting in 2020, a senior executive said on Wednesday.

"We are currently assessing a multi-billion project in our integrated manufacturing facility here in Singapore," Matt Bergeron, vice president of Asia Pacific Fuels Business at Exxon, said at a bunkering conference.

"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 percent sulphur fuels that we believe will be the compliant option for the vast majority of the marine sector," Bergeron said.

The International Maritime Organisation (IMO) is introducing new rules on marine fuels from 2020, limiting the sulphur content to 0.5 percent, from 3.5 percent currently, to curb pollution produced by the world's ships.

The shipping and oil refining industries are scrambling to prepare for the shift and have made large investments to comply with the new standards since they were announced in 2016.

Exxon's Singapore refinery is the company's largest, with a capacity of about 592,000 barrels a day. Singapore is also home to the oil giant's biggest integrated petrochemical complex.

"We have already made significant investments at a number of other refineries around the world in order to increase our production capacity of cleaner fuels with lower sulphur content," Bergeron said.

Exxon in September announced it was planning to spend more than $650 million to upgrade the UK's largest oil refinery, Fawley, on England's south coast.


(Reporting by Roslan Khasawneh; editing by Richard Pullin)

Categories: Fuels & Lubes Ports

Related Stories

CDWE Wraps Up Pin Pile Installation Job for Taiwanese Offshore Wind Farm

TPAO, SOCAR and BP to Ink Caspian Sea Oil and Gas Production Deal

Fugro Lands Deepwater Gas Field Job in Southeast Asia

BW Opal FPSO Vessel set for Work off Australia

Fire Contained at Vietnamese Oil Platform Undergoing Decommissioning (Video)

Petronas, Inpex Secure Oil and Gas Exploration Rights off Indonesia

Velesto’s Jack-Up Rig Up for Drilling Job Offshore Vietnam

Indonesia's Medco Starts Production at Natuna Sea Fields

ADNOC’s XRG Partners Up with Petronas for Offshore Gas Block in Caspian Sea

MODEC, Sumitomo Partner Up for Delivery of Gato do Mato FPSO

Current News

MODEC, Carbon Clean to Advance FPSO-Mounted Carbon Capture Tech

Aker Solutions, PTAS JV Hooks Brownfield Services Extension off Brunei

CDWE Wraps Up Pin Pile Installation Job for Taiwanese Offshore Wind Farm

BP Expands Oil and Gas Scope in Azerbaijan with New Projects and Exploration Rights

Azeri SOCAR Plans New Agreements with Oil and Gas Majors

TPAO, SOCAR and BP to Ink Caspian Sea Oil and Gas Production Deal

Fugro Lands Deepwater Gas Field Job in Southeast Asia

OMV Exits Ghasha Gas Project off UAE with Lukoil Stake Sale

China's Sinopec Laucnhes $690M Hydrogen Venture Capital Funds

CIP, ACEN Partner Up for First Large-Scale Offshore Wind Farm in Philippines

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com