Chevron denies reports of new Singapore cracker project

19 October 2010 11:35  [Source: ICIS news]

LONDON (ICIS)--US energy major Chevron is not investing in a cracker project in Singapore, contrary to earlier reports, a spokesman for the company said on Tuesday.

Chevron was considering the project in partnership with Chinese oil company PetroChina, a source told ICIS on Monday.

The project “is at a very early stage and is moving slowly”, the source said.

However, Chevron said on Tuesday that it “wishes to distance ourselves unutterably from such allegations”.

Chevron and PetroChina jointly own the Singapore Refining Co (SRC) refinery on Jurong Island.

The Singapore Economic Development Board (EDB) has said it would like the country’s ethylene capacity to be increased to 6m-8m tonnes/year in the long term, as part of its strategy to make better use of refinery bottoms. The EDB is part of the Singapore government.

Singapore’s ethylene capacity will reach 4m tonnes/year when ExxonMobil commissions its second cracker at Jurong Island, expected by 2012.

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By: Anna Jagger
+44 20 8652 3214

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