ExxonMobil Fuels & Lubricants (F&L) is a leading marketer of finished lubricants, asphalts and specialities products, as well as one of the world’s largest suppliers of base stocks. They are also one of the Singapore’s largest foreign manufacturing investors.
In the Singapore LNG cluster, there are 25 buyers and sellers including Woodside Energy and Statoil. ExxonMobil is already an established player in the bunker market in Singapore. Now, the oil major plans to set up an LNG equity marketing arm in Singapore to market products from their projects.
Earlier, Exxon Mobil had set up a Papua New Guinea LNG marketing team in Singapore, as well as another team to run their cargo, ship scheduling, LNG operations and measurement and sales accounting processes. The group’s global marine quality assurance headquarters was relocated to Singapore in 2013, which will now, also support their LNG activities.
ExxonMobil also has in Singapore its largest integrated refining and petrochemical manufacturing site. The Republic is its base for its regional supply and trading company, and the regional sales and marketing organisations for its fuels, lubricants and chemical companies.
Exxon Mobil announced last month of their plans to expand operations in Jurong to produce synthetic lubricants, including its flagship synthetic engine oil Mobil 1. The facility will be ready for operation during the third quarter of 2017 and shall be the first plant of its kind in Asia-Pacific, and one among five worldwide.
News sources revealed that Exxon Mobil’s future marketing of LNG would involve Western Canada, Scarborough, Alaska and Tanzania. According to the Singapore Port Authority, in terms of port volume, Exxon Mobil was leading last year.
Source: International Enterprise (IE) Singapore
