EXXONMOBIL on Tuesday committed to a multibillion-dollar expansion of its Jurong Island integrated manufacturing complex.
The expanded facilities will enable the oil company to convert fuel oil and other bottom-of-the-barrel crude products into higher-value lube base stocks and distillates.
The American oil and gas giant expects the project to significantly increase site downstream and chemical earnings potential.
The investment will raise the facility’s capacity to produce an additional 20,000 barrels per day of its Group II base stock oil and 48,000 barrels per day of cleaner fuels with lower-sulphur content.
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