Boston, MA 09/25/2014 (wallstreetpr) – Oil and exploration company, Exxon Mobil Corporation (NYSE:XOM) disclosed that it was intending to lift the production of its high performance hydrocarbon fluids by approximately 10% by expanding its units in Singapore and Antwerp.
Production Next Year
Exxon Mobil Corporation (NYSE:XOM) indicated that the additional capacity would commence production during the middle of the next year and would be complete in the following year, i.e. 2016, its statement revealed. The additional capacity was meant to augment the aggressively growing international demand for hydrocarbon fluids. The additional capacity would also allow the company to expand its supply capability globally.
Exxon Mobil’s intended project expansion in Antwerp was one among other major investments worth over $2 billion in the last one decade. The additional capacity of hydrocarbon fluids would further position itself as an integrated downstream and chemical portfolio in Europe’s northwest area to compete better.
Similarly, Singapore was the company’s biggest integrated refining and chemical manufacturing facility. It has increased production to meet the expected demand in the Asia Pacific region.
Exxon Mobil Corporation (NYSE:XOM) stated that the upgrading of the refining streams was progressing with the expansion of projects and established on other recently disclosed big investment projects in its Singapore, as well as, Antwerp units.
Exxon Mobil Chemical
Exxon Mobil Corporation (NYSE:XOM) said that the investments in the region demonstrated its commitment to meet the customer requirements. Exxon Mobil Chemical was a hydrocarbon fluid producer specifically formulated for industrial processing, resource extraction and a broad range of consumer applications. It included ultra-low aromatic grades, which delivers the higher standards of results without compromising the stringent regulatory and environmental requirements.
The company said that its fluids were tailor-made for particular end-use requirements thus enabling customers with a competitive edge. Besides, with extremely low odor and low aromatic content, its fluids were effectively replacing the conventional consumer and industrial solvents. Therefore, it believes that its fluids were best suited as dispersants, carriers and solvents for many applications.
