Exxon preparing $2 billion for Jurong petrochemicals - Breaking The News

Exxon preparing $2 billion for Jurong petrochemicals

5 April

1 min read

EPA / WALLACE WOON

Exxon Mobil Corp. revealed on Wednesday talks are underway about the oil giant's bid to purchase a giant petrochemical facility in Singapore. The embattled Jurong plant was shut down in 2014 soon after launch by Jurong Aromatics. The Financial Times quoted an unnamed source as saying the offer for the paraxylen hub is worth between $1.6 billion and $2 billion.

The person close to the talks said Glencore Plc, which participates in the debt-ridden joint venture, is another party interested in acquiring the complex. ExxonMobil already has a production unit in Jurong island.

oil glencore exxon petrochemicals jurong

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