ExxonMobil is in negotiations with the receiver for Jurong Aromatics Corporation to acquire JAC's assets on Jurong Island, Singapore. While progress is being made, no agreement has been reached yet. ExxonMobil was selected as the preferred buyer for JAC amid competitive bids by several companies. Late March, South Korea's Lotte Chemical confirmed news reports that it was not selected as a preferred bidder to acquire JAC. JAC filed for receivership in September 2015, due to a breakdown in debt restructuring talks. The plant resumed operations in July 2016 under a tolling agreement. The complex, which revolves around a 100 kbpd condensate splitter, also has capacity to produce 783 kta of jet fuel, 647 kta of light naphtha, 662 kta of gasoil, 283 kta of LPG, 35 kta of fuel oil, 46 kta of hydrogen and 18 kta of heavy aromatics, as well as petrochemical products including 800 kta of paraxylene, 400 kta of benzene and 200 kta of orthoxylene. ExxonMobil already operates a refinery and petrochemical complex in Singapore.