Market Overview

ExxonMobil Completes Singapore Expansion to Enhance Group II Base Stocks Supply

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  • Expansion strengthens global supply of high-quality base stocks to
    meet growing demand
  • Products enable customers to blend lubricants that help reduce
    emissions and improve fuel efficiency
  • Supply to customers expected by the third quarter of 2019

ExxonMobil
today said that it has completed an expansion at its Singapore refinery
to upgrade its production of EHC™ Group II base stocks, strengthening
the global supply of high-quality base stocks and enhancing the
integrated facility's competitiveness.

The expansion will enable customers to blend lubricants that satisfy
more stringent specifications, help lower emissions and improve fuel
economy and low-temperature performance. Customers will achieve
short-term and long-term cost savings through blending optimization and
reformulation.

"The safe, on-schedule completion and successful startup of this
expansion further enhances ExxonMobil's competitiveness in manufacturing
Group II base stocks," said Bryan Milton, president of ExxonMobil Fuels
& Lubricants. "It further establishes ExxonMobil as a key producer of
fuels and petrochemical products and affirms our confidence in
Singapore, where we operate ExxonMobil's largest global integrated
refining and petrochemical complex."

Supply to customers is expected in the third quarter of 2019, and builds
upon recent expansions at ExxonMobil's Rotterdam facility, which along
with existing production in Baytown, Texas strengthens the global supply
of high-quality base stocks.

ExxonMobil's EHC™ product line has been designed to maximize the
performance of all major automotive engine oil grades and to enhance the
performance of finished lubricants used in multiple industries.

Construction of the expansion began in 2017 and was completed safely and
on schedule with 1 million workforce hours. At peak construction, more
than 300 workers were employed.

Earlier this year, ExxonMobil announced a final investment decision on a
multi-billion dollar expansion of the Singapore integrated manufacturing
complex as part of the company's plan to significantly increase earnings
potential of the site.

About ExxonMobil

ExxonMobil, the largest publicly traded international oil and gas
company, uses technology and innovation to help meet the world's growing
energy needs. ExxonMobil holds an industry-leading inventory of
resources, is one of the largest refiners and marketers of petroleum
products, and its chemical company is one of the largest in the world.
For more information, visit www.exxonmobil.com
or follow us on Twitter at www.twitter.com/exxonmobil.

Cautionary Statement: Statements of future
events or conditions in this release are forward-looking statements.
Actual future results, including project plans, schedules, timing, and
outcomes; economic and environmental impacts; and earnings potential
could differ materially due to changes in market conditions affecting
the oil, gas and petroleum product industries or long-term oil, gas and
petroleum product price levels; political or regulatory developments
including changes in environmental regulations and obtaining necessary
government permits; timely completion of construction projects; future
technological developments; actions of competitors; technical or
operating factors; the outcome of commercial negotiations; and other
factors cited under the caption "Factors Affecting Future Results" on
the Investors page of our website at exxonmobil.com. The term "project"
as used in this release can refer to a variety of different activities
and does not necessarily have the same meaning as in any government
payment transparency reports.

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