ExxonMobil (XOM) plans to permanently shut down its older steam cracker on Jurong Island, Singapore, in March 2026, Reuters reported, citing sources familiar with the matter.
The shutdown process is expected to be completed by June 2026, the sources added. The facility, which has been operational since 2002, faces closure amid global petrochemical overcapacity driven by Chinese production.
The move aligns with broader industry-wide losses, workforce reduction in Singapore, and sales of retail operations.
Earlier this year, the company started a 1.6 million tons/year ethylene cracker in Huizhou, China, and also gradually reduced term contract volumes with customers in Singapore. The company will continue operating a second, newer cracker, started in 2013 on the island.
ExxonMobil (XOM) did not immediately respond to Seeking Alpha’s request for comment.