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]

Core Insights - ExxonMobil is planning to wind down operations at its older steam cracker located on Singapore's Jurong Island starting in March, reflecting a broader trend in the global petrochemicals sector to reduce capacity due to industry losses [1] Company Summary - The decision to close the steam cracker is part of ExxonMobil's strategy to adapt to changing market conditions and align with the industry's shift towards capacity reduction [1] Industry Summary - The petrochemicals sector is experiencing significant challenges, leading to a trend of capacity reductions as companies face ongoing industry losses [1]