SPRING, TEXAS--(BUSINESS WIRE)--
ExxonMobil said today that it has reached a final investment decision and started construction on a new unit at its Beaumont, Texas refinery that will increase crude refining capacity by more than 65 percent, or 250,000 barrels per day. The third crude unit within the facility’s existing footprint will expand light crude oil refining, supported by the increased crude oil production in the Permian Basin.
“With access to terminals, railways, pipelines and waterways nearby, the Beaumont refinery is strategically positioned to benefit from Permian production growth,” said Bryan Milton, president of ExxonMobil Fuels and Lubricants Company. “The addition of a third crude unit in Beaumont will enhance the refinery’s competitive position and truly establish it as a leader in the U.S. refining industry.”
Startup of the new unit is anticipated by 2022. The project is expected to create up to 1,850 jobs during construction and between 40 and 60 permanent jobs once completed.
ExxonMobil previously announced plans to build and expand manufacturing facilities in the U.S. Gulf region as part of its Growing the Gulf initiative. Growing the Gulf projects include expansion of Beaumont’s polyethylene capacity by 65 percent, a new unit in Beaumont that increases production of ultra-low sulfur fuels, and a new 1.5 million ton-per-year ethane cracker at the company’s integrated Baytown chemical and refining complex in Texas. ExxonMobil and SABIC have also created a new joint venture to advance development of the Gulf Coast Growth Ventures project, a 1.8 million metric ton ethane cracker currently planned for construction in San Patricio County, Texas.
ExxonMobil’s integrated operations in Beaumont include a 366,000 barrel-per-day capacity refinery, as well as chemical, lubricants and polyethylene plants. ExxonMobil has approximately 2,100 employees in the Beaumont area and its operations account for approximately 1 in every 7 jobs in the region.
ExxonMobil, the largest publicly traded international oil and gas company, uses technology and innovation to help meet the world’s growing energy needs. ExxonMobil holds an industry-leading inventory of resources, is one of the largest refiners and marketers of petroleum products and its chemical company is one of the largest in the world. For more information, visit www.exxonmobil.com or follow us on Twitter www.twitter.com/exxonmobil.
Cautionary Statement: Statements of future events or conditions in this release are forward-looking statements. Actual future results, including project plans, costs, schedules, capacities, and production rates could differ materially due to changes in market conditions affecting the oil, gas and petrochemical industries or long-term price levels for oil, gas, refined products and petrochemicals; political and regulatory developments including changes in environmental laws and regulations and obtaining necessary permits and approvals; the ability to implement operating and management improvements as planned including timely completion of construction projects; the actions of competitors; the occurrence and duration of economic recessions; the outcome of commercial negotiations; and other factors discussed in this release and under the heading “Factors Affecting Future Results” on the Investors page of ExxonMobil’s website at www.exxonmobil.com. Forward-looking statements in this release are based on management’s information and belief at the time of the release and we assume no duty to update these statements as of any future date. This release is not intended to override the corporate separateness of various entities, including affiliated companies.
Copyright Business Wire 2019