Shell-Exxon JV to Invest $26.5 Million to Improve Manufacturing, Achieve Net Zero
07.21.2023 By TankTerminals.com News - NEWS

July 21, 2023 [The Straits Times]- Infineum, a specialty chemicals joint venture (JV) between Shell and Exxon Mobil, plans to invest US$20 million (S$26.5 million) from 2025 to 2035 to improve its manufacturing facilities worldwide, including those in Singapore.

 

The 10-year capital expenditure plan will also help the company, which makes petroleum additives for lubricants and fuels, achieve its net-zero goals, Infineum announced at an event in Singapore on Thursday.

Earlier in 2023, the company became the first major lubricant additives firm globally to set a target of 50 per cent reduction in its greenhouse gas (GHG) emission intensity by 2030 and achieve net zero by 2050 for its operating assets. This represented an extension of earlier efforts to reduce operational GHG emission intensity to 20 per cent by 2025.

The UK-based company started its Singapore operations in 1999. It now has its Singapore Business and Technology Centre at Keppel Bay Tower, and a component manufacturing and blending plant on Jurong Island. Its Singapore headcount has grown to 300. Infineum’s products have a broad range of applications across various industries, including automotive, electric and hybrid vehicles, marine shipping and gas engines, crude oil refining, and mining.

Mr Kevin Poindexter, head of sustainability at Infineum, said Infineum Singapore has made good strides towards its sustainability goals. The Jurong Island manufacturing plant recently optimised the centrifuge of its calcium sulphonate unit which led to a remarkable 75 per cent reduction in water consumption, resulting in daily savings of 48 cubic m, equal to 48,000 litres.

Another area of focus for Infineum Singapore is refrigerant control. In 2022, the company achieved an 80 per cent reduction in refrigerant losses. This corresponded to over 8,000 tonnes of carbon dioxide equivalent in GHG emission savings across its manufacturing plant.

“These achievements so far demonstrate the company’s alignment with Singapore’s environmental stewardship as well as the United Nations Sustainable Development Goals,” said Mr Poindexter.

Pro Trial: Access 12,600 Tank Terminal and Production Facilities

12,600 tank storage and production facilities as per the date of this article. Click on the button and register to get instant access to actionable tank storage industry data

Vopak Ups Outlook as Demand for Energy Storage Boosts Profit
05.20.2024 - NEWS
May 20, 2024 [Reuters]- Tank storage company Vopak VOPA.AS on Wednesday raised its full-year prof... Read More
China Energy to Complete New Serbian Refinery in Four Years - Report
05.20.2024 - NEWS
May 20, 2024 [SeeNews]- China Energy International Group is expected to build a 2.4 billion euro ... Read More
UAE's ADNOC Buys Stake in NextDecade's Rio Grande LNG Facility, Signs Supply Deal
05.20.2024 - NEWS
May 20, 2024 [Reuters]- Abu Dhabi National Oil Company (ADNOC) has acquired an 11.7% stake in Nex... Read More
OMV Petrom Commissioned the Largest Crude Oil Storage Tank in Romania, at Petrobrazi Refinery
05.20.2024 - NEWS
May 20, 2024 [The Diplomat]- OMV Petrom, the largest integrated energy producer in Southeastern E... Read More