What are some of the latest developments at ExxonMobil in the past year?

A noteworthy development is ExxonMobil’s ambition to achieve net-zero greenhouse gas (GHG) emissions from our operated assets by 2050, which is in line with society’s ambition to achieve net zero emissions by mid-century.

To achieve this aim, comprehensive asset-by-asset roadmaps are being developed for major operated assets. In Singapore, a team is developing an emissions-reduction roadmap for our integrated refining and petrochemical complex here.

Another development is the ExxonMobil reorganization that came into effect on April 1, 2022. We now have three business lines: Upstream, Product Solutions (that combines the chemical and downstream businesses) and Low Carbon Solutions.

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.

As Singapore is the Asia Pacific hub for ExxonMobil’s downstream and chemical businesses, I am excited for our teams who will continue to work on solutions for the energy transition.

Could you update on the progress made towards carbon capture and storage, hydrogen, and biofuels?

ExxonMobil, which has more than three decades of experience in utilizing existing CCS technologies and exploring new ones, has progressed several CCS opportunities around the world. An example would be the large-scale CCS concept in the Houston area, where we will work with other companies in the area to develop and implement CCS technology.

In Asia, we have been assessing the potential for a CCS hub concept in Singapore that would capture, transport and store carbon dioxide (CO2) resulting from industrial activity from the region. The concept could see us capturing CO2 emissions from industrial hubs like Jurong Island in Singapore and storing the CO2 deep underground in the region. Last year, ExxonMobil also signed Memoranda of Understanding with Pertamina in Indonesia and PETRONAS in Malaysia to further evaluate the potential for CCS technologies.

Hydrogen is a potential low carbon solution for hard-to-abate sectors. When coupled with CCS, hydrogen production from natural gas is likely to play a critical role in a lower-carbon energy system. ExxonMobil is planning a world scale plant for the production of low carbon hydrogen at our refining and petrochemical facilities at Baytown, Texas.

ExxonMobil is investing in fuel production with lower emissions, including biofuels and eFuel, which is a synthetic fuel made from hydrogen and carbon dioxide from carbon capture. From our renewable diesel project in Strathcona, Canada, to our investment in Norway’s Biojet AS, a company that turns wood waste into biofuel, there are a number of projects in motion.

Earlier this year, ExxonMobil was, with support from Civil Aviation Authority of Singapore and Temasek, selected by national carrier Singapore Airlines to supply and deliver blended sustainable aviation fuel (SAF) as part of a pilot on the use of SAF at Changi Airport in Singapore.

Could you comment on the planned increases in the carbon tax?

A stronger carbon price signal from the government encourages investments in greenhouse gas reduction. ExxonMobil has long supported an explicit price on carbon to establish market incentives and provide the needed clarity and stability required for investments.

Beyond levers such as carbon tax, we believe in the importance of reducing emissions in our operations through carbon abatement projects, improving energy efficiencies and providing products to help customers reduce their emissions.

Could you share with us an example of a social initiatives or community investment driven by ExxonMobil in Singapore?

Our community investments in Singapore span the areas of education, the environment, the arts and other civic and community giving.

We support longstanding programs such as the ExxonMobil Campus Concerts series since 1986 for National University of Singapore students to collaborate and put together performances the campus. The biennial Caring Teacher Awards is jointly organized by the National Institute of Education and ExxonMobil, with support from the Ministry of Education. Since 1996, this award recognizes exceptional contributions of teachers who have consistently made a difference in the lives of their students in their studies and outside the classroom.