Singapore Committed to High-Value, Low-Carbon Energy & Chemicals Manufacturing, DPM Gan Affirms at ExxonMobil Project Opening

Published By DPRJ Universal | Published on Tuesday, 16 December 2025

Deputy Prime Minister Gan Kim Yong affirmed Singapore's dedication to high-value, low-carbon energy and chemicals manufacturing, even amidst global economic challenges. Speaking at ExxonMobil's Resid Upgrade Project opening, he highlighted the facility as a milestone in their long-standing partnership. This plant, ExxonMobil's sole global producer of EHC 340 MAX lube base stock, reinforces Singapore's position as a premier hub for specialty chemicals and sustainable materials, underscoring its focus on innovation, skilled workforce, and a pro-business environment for a net-zero future.

Deputy Prime Minister Gan Kim Yong reiterated Singapore's unwavering commitment to transforming its energy and chemicals (E&C) sector into a high-value, low-carbon, and sustainable manufacturing hub. Speaking at the opening of US energy giant ExxonMobil’s Resid Upgrade Project on Jurong Island on December 16, 2025, DPM Gan emphasized that this strategic direction will continue despite a challenging global economic environment. The government plans to achieve this by collaborating with industry leaders and investing in its competitive advantages: a skilled workforce, high-quality infrastructure, a pro-business environment, and integration into global flows of energy, goods, and talent.TheThe ExxonMobil Resid Upgrade Project itself marks a significant milestone, being the company's only facility globally to produce the advanced EHC 340 MAX lube base stock, catering to markets across Asia, Europe, and North America. This investment, part of over $30 billion by ExxonMobil in Singapore since 1966, not only boosts production capacity but also creates high-quality jobs and fosters deep technical capabilities. DPM Gan underscored that this partnership, tested through economic downturns, exemplifies Singapore's vision for Jurong Island as a premier hub for specialty chemicals, sustainable materials, and a global test bed for new energy technologies. The initiative reflects Singapore’s proactive adaptation to structural shifts like global overcapacity, changing demand patterns, and the transition to a net-zero future, ensuring the Republic remains a stable, competitive, and forward-looking home for world-scale manufacturing.