Business Insights: Transformations by the Country’s Biggest Players - Singapore Chemicals, Ingredients and Materials 2022 - Digital Version

Business Insights:

Transformations by the Country’s Biggest Players

ExxonMobil, Chevron, and Shell are taking steps towards decarbonization

“The new ExxonMobil Product Solutions Company will engineer, manufacture and deliver products needed by modern society at an industry-leading scale, serving multiple segments, products and markets. It will play a critical role in reducing greenhouse gas emissions and plastic waste by developing more sustainable products such as lower-emission fuels, chemical performance products, next-generation lubricants and plastics, as well as certified circular polymers. Through our Low Carbon Solutions business, ExxonMobil is commercializing its low-carbon technology portfolio to enable large-scale greenhouse gas emission reductions, with a focus on carbon capture and storage (CCS), hydrogen and biofuels.”

Geraldine Chin, Chairman and Managing Director, ExxonMobil Asia Pacific

“As our first pillar, our differentiated energy transition strategy is to lower the carbon intensity of our operations. Our second pillar is to grow our lower carbon businesses in renewable fuels & products, hydrogen, CCUS, carbon offsets and emerging lower carbon opportunities. The third pillar will be technology; this will enable us to unlock the potential value of future energy solutions. The advancement of technology will require us to rely on the right business models and collaboration with the right partners.”

Tat Win Law, Singapore Country Chairman, Chevron

“Our vision is to transform Bukom, fully integrated with Shell Jurong Island, into an Energy and Chemicals Park where we can provide a wide range of low carbon solutions to different sectors here in Singapore and Asia. To achieve this, we plan to create new low carbon platforms like bio, circular, and clean energy systems like CCS and renewable energies. We halved our crude processing capacity at Bukom as part of an overhaul in our journey towards a low-carbon future last year. We have announced final investment decision on repurposing a unit to produce more differentiated polyols.”

Shirley Yap, Senior Vice President, Shell Chemicals and Products Asia

Image courtesy of Roquette Freres

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