In 2021, ExxonMobil took a major step by announcing its plan to reduce greenhouse gas emissions by 2030.
US energy giant ExxonMobil is turning heads in Singapore as it has started its plant that converts leftover crude oil into refined products. Instead of letting residue go to waste, this innovative plant will turn them into higher-value lubricant base stocks and lower-sulphur fuels, products used to keep trucks and turbines running smoothly.
ExxonMobil’s multibillion-dollar Singapore Resid Upgrade Project was first announced in 2019. It was originally supposed to be completed in 2023. However, the project faced many hurdles driven by the pandemic, a challenge that affected many large-scale projects. Nevertheless, ExxonMobil’s persistence paid off, as the plant was finally launched.
The new plant is located on Jurong Island. It will increase its base production in Singapore to 20,000 barrels per day. The higher production will include 6,000 barrels, which will be produced daily. It is to meet the demanding requirements of commercial vehicles and industrial machinery. But that’s not all: the plant also increases the refinery’s capability to produce ultra-low sulphur diesel and many other products used by lorries, construction vehicles, and massive power generation turbines.
Most of the company’s Asia-Pacific operations happen in Singapore. The Singapore plant produces fuels and base stocks for lubricants, as well as aromatics, which are marketed domestically and exported internationally. The new plant uses technology that has never been used anywhere else. It signifies the company’s ongoing investment in its manufacturing assets, as well as its commitment to meeting the increasing global demand for high-quality, cleaner-burning fuels.
Geraldine Chin, chairwoman and managing director of ExxonMobil Asia Pacific, voiced pride, stating that no other company globally has accomplished what ExxonMobil has here. She talked about the team’s commitment to introducing innovative products to market using the latest technology and expertise. Chin warmly thanked the people behind the project for making this achievement possible.
Industry analysts predict that the market for high-viscosity lubricants will continue to grow as they see a booming demand in the automotive and industrial sectors, where they want their equipment to have long-term durability and peak performance in extreme conditions. The Asia-Pacific region is like a gold mine, as it sees a rapid industrial expansion, new technological advances, and increasingly stringent environmental regulations, which prompt manufacturers to look for advanced, climate-friendly lubricants.
ExxonMobil is one of Singapore’s oldest and biggest investors. It has invested more than $30 billion into fixed assets. It gives employment to 3,500 people locally, and its operations provide revenue for 2,000 small and medium-sized companies that are the backbone of Singapore’s economy.
But the company isn’t stopping there. ExxonMobil is expanding its portfolio to low-emission fuels and low-carbon solutions. It is investing in research partnerships in Singapore to make it possible. The overall goal for the company is to keep producing products and solutions that increase the quality of life for the people and keep pace with the evolving needs of society.
ExxonMobil’s core businesses are upstream, product solutions, and low-carbon solutions. They are focused on delivering the energy, chemicals, and technologies essential for modern living, where low-carbon is the future. Notably, ExxonMobil operates the largest CO2 pipeline network in the United States.
In 2021, ExxonMobil took a major step by announcing its plan to reduce greenhouse gas emissions by 2030, measured against 2016 levels. They aimed to reduce greenhouse gas intensity by 20-30%, decrease upstream operations by 40-50%, decrease methane intensity by 70-80%, and decrease flaring intensity by 60-70%.
With the opening of this advanced facility, ExxonMobil establishes itself as a leader in the global energy industry. The company invests in new technologies and sustainable solutions to meet the growing demand for cleaner, high-performance fuels and lubricants, while supporting Singapore’s ambitions to become a hub for energy.
