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ExxonMobil to Acquire Jurong Aromatics Corporation's Singapore

ExxonMobil Chemical Company said Thursday that it has reached an agreement with Singapore's Jurong Aromatics Corporation Pte. Ltd. to acquire its aromatics plant on Jurong Island.

The company expects to complete the transaction in the second half of 2017, according to the statement.

The Jurong aromatics complex, which includes a 100,000 b/d condensate splitter, also has the capacity to produce 783,000 mt/year of jet fuel, 647,000 mt/year of light naphtha, 662,000 mt/year of gasoil, 283,000 mt/year of LPG, 35,000 mt/year of fuel oil, 46,000 mt/year of hydrogen and 18,000 mt/year of heavy aromatics, as well as petrochemical products including 800,000 mt/year of paraxylene, 400,000 mt/year of benzene and 200,000 mt/year of orthoxylene.

The acquisition is widely seen as integrating JAC's operations with ExxonMobil Singapore's refining and petrochemical complex, which has a crude oil processing capacity of 592,000 b/d and includes two world-scale steam crackers.

Acquisition of the Jurong aromatics plant will increase ExxonMobil's Singapore aromatics production to over 3.5 million mt/year, of which 1.8 million mt is PX, the statement said.

--Rohan Menon, rohan.menon@spglobal.com
--Edited by E Shailaja Nair, shailaja.nair@spglobal.com