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Wednesday, June 20, 2018

Exxon confirms Gulf Coast oil-refining expansion

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A top Exxon Mobil Corp official confirmed a multi-billion dollar plan under consideration to double US light crude oil refining capacity along the U.S. Gulf Coast to take advantage of the nation's growing shale oil production. Exxon's proposed project, which has not received a final investment decision, would be the first major expansion of gasoline and motor fuels production in the nation in six years.

Exxon's Beaumont, Texas refinery could become the nation's largest by capacity when the work is complete in the next decade. Exxon expects to add a crude distillation unit (CDU) at its 362,300 barrel per day (bpd) Beaumont refinery and boost refining capacity at plants in Baytown.

-Reuters, Houston

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