Energy industry faces climate and job hurdles: Chan Chun Sing

"In a world of uncertainty, where investors are looking for long-term stability, we need to provide that … beyond one or two terms of government."

The two new facilities, which were completed in 2017, add a resin production capacity of 90,000 tonnes a year and a butyl capacity of 140,000 tonnes a year. Mr Chan, who previously led the National Trades Union Congress, drew a line in his speech between protecting jobs and protecting workers. "These two new speciality chemical plants will strengthen ExxonMobil's competitive manufacturing base to help meet market demand for these high-performance products."

Construction of the new project - which will add 20,000 barrels a day to certain base stocks capacity, and increase lower-sulphur fuel capacity by 48,000 barrels a day - is scheduled to begin in the second half of 2019, with operations expected to start in 2023.

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