ExxonMobil's Resins Unit In Singapore Commences Operations
Zacks Investment Research | Jun 21, 2018 06:13AM ET
Exxon Mobil Corporation (NYSE:XOM) announced that its Singapore-based integrated manufacturing facility has commenced production of petrochemicals. Among all the integrated refining and petrochemical facilities operated by the company in the world, the complex in Singapore is the largest.
Among the two new plants, one has the capacity to produce 90,000 tons of Escorez hydrogenated hydrocarbon resins every year. The unit is touted to be the largest resins plant in the world. The second unit is projected to generate 140,000 tons of premium halobutyl rubber every year.
The construction of the two plants was completed on time and the development is expected to include 140 workers to the prevailing workforce of ExxonMobil.
Notably, hydrogenated hydrocarbon resins produced from one of the plants is expected to cater to the increasing need for adhesives in Asia Pacific. The premium halobutyl rubber, produced from the other unit, will be employed in the construction of tires.
Headquartered in Irving, TX, ExxonMobil is involved in upstream, midstream and downstream activities. Over the past year, the stock has declined 1.2% against the 18.4% collective rise of the industry .
Presently, ExxonMobil carries a Zacks Rank #3 (Hold).
A few other better-ranked players in the energy space are Anadarko Petroleum Corp. (NYSE:APC) , Eclipse Resources Corp. (NYSE:ECR) and Wildhorse Resource Development Corp. (NYSE:WRD) . All the stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here .
We expect Anadarko Petroleum to witness year-over-year earnings growth of 229.6% in 2018.
Eclipse is expected to record revenue growth of 13.5% through 2018.
Wildhorse will likely see year-over-year earnings growth of 309.3% in 2018.
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks Research.
It's not the one you think.
Zacks Investment Research
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.