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Exxon to invest $2B into Houston area petrochemical expansion

PortandTerminal.com, May 4, 2019

Exxon Mobil will invest $2 billion into expanding its Baytown chemical complex. The company says that the project is an add-on to its $20-billion-plus “Growing the Gulf” series of projects to build and expand manufacturing facilities along the U.S. Gulf Coast.

Houston, TX – Located about 25 miles from Houston along the Houston Ship Channel, Exxon’s Baytown plant is the largest integrated petrochemical complex in the U.S. Exxon Mobil Corp plans to invest an additional $2 billion in a three-year expansion project at its Baytown, Texas, chemical complex, the company said on Thursday.

Exxon will add a plant producing 400,000 tons of polymers a year and an olefins plant that will produce 350,000 tons of feedstocks for polyethylene, waxes and lubricating oils at Baytown by 2022.

It is another step in Exxon’s pivot to take advantage of light sweet crude being produced in the Permian Basin of Texas.

Exxon is also expanding its 365,644-barrel-per-day Beaumont, Texas, refinery with the addition of a 250,000-bpd crude distillation unit to process crude from the Permian.

“Our Baytown chemical expansion will put us in a solid position to maximize the value of increased Permian Basin production and will deliver higher-demand, higher-value products produced at our Gulf Coast refining and chemical facilities,” said Darren Woods, Exxon chairman and chief executive officer.

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