ExxonMo­bil to buy S’pore re­fin­ery

New Straits Times - - Business -

SIN­GA­PORE: Exxon Mo­bil Corp said yes­ter­day it has reached an agree­ment to buy a refin­ing and petro­chem­i­cal plant owned by Jurong Aro­mat­ics (JAC) in Sin­ga­pore that will boost its out­put and meet de­mand in Asia. The com­pany ex­pects to com­plete the trans­ac­tion in the sec­ond half of this year, boost­ing its aro­mat­ics pro­duc­tion in Sin­ga­pore to more than 3.5 mil­lion tonnes per year (tpy), in­clud­ing 1.8 mil­lion tpy of paraxy­lene, a raw ma­te­rial for tex­tiles and bot­tles.

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