Exxon Mobil considering further investment in Singapore refinery, the firm’s largest

Exxon Mobil has said that it is considering launching a multi-million dollar investment in its refinery in Singapore

The refinery is the petrochemical giant’s largest, and has a capacity of 592,000 barrels per day.

In 2020, the International Marine Organisation is modifying its regulations regarding marine fuel’s sulphur content.

Under new rules, the allowed sulphur content will be dropped from 3.5% to 0.5% in an effort to mitigate pollution.

Matt Bergeron, vice president of APAC fuels business at Exxon Mobil, said:

“We are currently assessing a multi-billion project in our integrated manufacturing facility here in Singapore.”

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“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 fuel that we believe will be the compliant option for the vast majority of the marine sector.”

Last month Exxon stated that it has plans to spend over US$650mn to upgrade the largest oil refinery in the UK on the south coast of England, Reuters reported.

Bergeron added, “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.”

The company is considering selling its assets on the US Gulf of Mexico, according to Oil and Gas Investor’s sources.

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