May 27th, 2007 06:56 EST
ExxonMobil Chemical's Project Plans Focused on Meeting Asia Demand Growth
BEIJING--(BUSINESS WIRE)--ExxonMobil Chemical's asset base in the Middle East and Asia is ideally positioned to meet petrochemical demand growth, Senior Vice President Jim Harris today told participants at the 2007 China Petrochemical Focus conference in Shanghai.
Harris explained that over the next 10 years, the company expects that 60 percent of the world's petrochemicals growth to occur in Asia, over one-third in China alone. "By 2015 we expect Asia will account for 50 percent of global demand for key commodity products, and China alone will represent 25 percent," he said.
ExxonMobil Chemical's investments in the Middle East and Asia are based on long-term competitive advantages, including integration with other operations, advantaged feedstocks and market access, according to Harris. "We anticipate that major projects the company is pursuing in Saudi Arabia, Qatar, Singapore and China would increase our capacity in Asia and the Middle East by over 50 percent over the next several years."
Harris said, "ExxonMobil Chemical is an industry leader in operational and transactional excellence, customer and market focus, and technology. We have continually demonstrated our long-term commitment to the industry through our investments, innovation, products and services."
The full text of his presentation is available at: http://www.exxonmobil.com/Corporate/Newsroom/SpchsIntvws/Corp_NR_SpchI ntrvw_JH_052507.asp (Due to its length, this URL may need to be copied/pasted into your Internet browser's address field. Remove the extra space if one exists.)
About ExxonMobil Chemical
ExxonMobil Chemical is a global leader in technology, product quality and customer service with petrochemical manufacturing and/or marketing operations around the world. To find out more about ExxonMobil Chemical visit www.exxonmobilchemical.com.
The term "ExxonMobil Chemical" refers collectively to some or all of the companies affiliated with Exxon Mobil Corporation, and/or itself, which have chemical manufacturing and/or marketing operations around the world.