Issue 5/2017 - Global Chemicals Quick Facts

ExxonMobil Singapore refinery expands production of Class II base oils

ExxonMobil has approved the expansion of high-quality base oil capacity
at ExxonMobil Asia Pacific Petroleum's 592,000 b/d refinery on Jurong Island southwest of Singapore.
The expansion will support the production of the company's EHC Class II base oils, which will enhance the global supply capacity of these products and improve the competitiveness
of Singapore's refineries.
EHC Group II base stocks enable downstream customers to blend lubricants that meet more stringent standards, helping to reduce emissions, improve fuel economy and low-temperature performance
.
The expansion of the refinery will begin in the second quarter of this year and is expected to be completed
in 2019.
ExxonMobil's EHC product line maximizes the performance of automotive engine oils while improving the performance
of finished lubricants used in many industrial sectors.

In 2016, the global oil and gas M&A transaction volume increased significantly

According to EY's latest 2016 Review of Global Oil and Gas M&A Deal Activity, global oil and gas M&A deal value increased to $395 billion in 2016 from $340 billion in 2015, although the number of deals fell by 27%.

Andy Brogan, head of global oil and gas M&A transactions at EY, said: "The global oil and gas M&A transaction market was not stable last year, and M&A transactions have become an urgent task
for oil and gas companies to adapt to the new state of the industry.
In an environment of large fluctuations in oil and gas prices, some of the announced M&A transactions have not been successfully completed
.
At present, the industry generally believes that the worst is over and the situation has changed
.
EY expects the strong momentum that began in the fourth quarter of 2016 to continue
in 2017.
”