Dallas, Texas 01/13/2014 (FINANCIALSTRENDS) – Exxon Mobil Corporation (NYSE:XOM) strengthened its long-term supply promise to the fast-rising Asia-Pacific zone during an occasion celebrating the development of its Singapore chemical production plant.
During the event, Rex W Tillerson, Company’s chairman and chief executive officer stated, “Worldwide chemical demand will develop at a faster speed than gross domestic product as people search for higher criterions of living and buy additional household and packaged goods made with chemical items.”
The company’s expansion project doubled the size of its finished product capacitance in the Singaporean zone, making it the biggest chemical growth in the company’s record.
The Singapore chemical plant, which now makes around one-quarter of ExxonMobil’s worldwide chemical capacitance, incorporates over 40 novel proprietary technologies and is projected to be one of ExxonMobil’s most energy competent and supple sites.
Rex mentioned that the foundation for the progressions at the Singapore complex got established decades before and beefed up via the nation’s connections with and admiration for the individuals and country of Singapore.
He also said that the administration heads here wisely followed a stable plan course, which encouraged global investment, joint effort and superior technologies.
Company agrees to $2,329,000 settlement
ExxonMobil will make a payment of around $2,329,000 to support beneficial environmental projects (BEPs) and a spill countermeasures plan and to shell out civil penalties to DEQ under a settlement contract settled Jan. 9.
Exxon Mobil Corporation: Ukraine in JV with western companies
The Ukraine is rolling out major natural gas extraction projects in the nation, as affiliations with top Western firms.
The Ukraine is functioning with Chevron, Exxon Mobil Corporation (NYSE:XOM), and Royal Dutch Shell on projects directing tight gas, shale gas, and conservative gas, onshore and offshore on Ukrainian field. Those projects would allow Ukraine to turn into self-sufficient for gas supplies by the year 2020, administrators stated.