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ExxonMobil to Invest More Than $1B to Increase Cleaner Diesel Supply
17 December 2008
ExxonMobil Refining & Supply today will invest more than $1 billion in three refineries to increase the supply of cleaner burning diesel by about six million gallons per day. The company will construct new units and modify existing facilities at its Baton Rouge, Louisiana; Baytown, Texas; and Antwerp, Belgium, refineries.
By 2010, the refineries’ modifications and expansions are expected to be completed, increasing production of diesel with sulfur levels of 15 parts per million (ppm) or less.
This investment is the latest phase in ExxonMobil’s efforts to increase supplies and reduce the sulfur content of both motor gasoline and diesel. In 2000, the company began an integrated approach to convert and modify refineries, terminals and pipelines to provide ultra low sulfur fuel products.
The Baytown Refinery is the largest oil refinery in the United States, with a crude capacity of approximately 567,000 barrels per day. The Baton Rouge Refinery is the second-largest oil refinery in the United States, with a crude capacity of approximately 503,000 barrels per day. The Antwerp Refinery is the second-largest ExxonMobil refinery in Europe, with a crude capacity of approximately 305,000 barrels per day.
December 17, 2008 in Brief | Permalink | Comments (4) | TrackBack (0)
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Posted by: Wm M Huffman | December 17, 2008 at 08:48 AM
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What is truly amazing about "incredible profit margins" is that Big Government makes MORE per gallon of gas/diesel than Big Oil. But, of course, lets all hate Big Oil and be supportive of Big(er) Government. Why not? Big Oil produces products that we demand. Big Government takes our income as gas taxes then gives it to bankers and insurance companies. What a silly bunch of people: hate Big Oil while praising Big Government.
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Posted by: | December 17, 2008 at 10:02 AM
sshhhhhhh!!!
Don't let the sheeple in on this dirty secret. Our newly-elected representatives got elected on the premise of punishing big oil for being so darned profitable.
Big government isn't the culprit- it's all those profitable businesses that creat jobs and pay taxes.
Plus, our media worked so hard in our favor to get all the sheeple to vote us into power so we could put our master plan called: "re-distribution of wealth" into action.
I mean, really, to think that there are actually folks in America today who believe that if you work hard enough to earn money- you have a right to keep it. Sheesh!
I am heading straight to our inauguration ball with my tin cup in hand. I've been oppressed and I'm entitled! I demand my hand-out!
Posted by: DieselHybrid | December 17, 2008 at 07:05 PM
Clearly we need more unionization of the oil industry. But wait, how about an "Oil Czar" appointed by the government.
THAT will put a stop to these obscene profits.
Seriously, does ExxonMobil actually have the cash to do this ? Apparently so.
It is criminal that there was not some program in place to allow the politicians to chose in which technology the capitalists at Exxon invested their cash. But there is still hope. I am sure the $1B will not be fully spent or even committed before our new government can divert most of it to support (or create) something similar to the UAW Job Bank.
Posted by: ToppaTom | December 18, 2008 at 04:29 AM
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FYI - XOM will have no trouble reaching this goal and still maintaining incredible profit margins even in a down economy due to their tremendous reserves and far-sighted thinking and unbelievably tremendous group of hard-working and intelligent employees and contractors.
WMH