ExxonMobil shuts Singapore cracker, signals deep distress in global petrochemicals sector

Group 1 - ExxonMobil will discontinue operations at its older steam cracker on Singapore's Jurong Island starting in March [1] - This decision is part of a broader strategy to optimize operations and reduce costs [1] - The company currently operates two steam crackers in Singapore, and this move indicates a shift towards more efficient production methods [1]