![]() ![]() Profits for Gulf Coast refiners have swollen as cheaper North American crude allows them to capture big margins when exporting refined products. Gulf Coast's position as a top global supplier of gasoline and diesel at a time when domestic demand is falling. "We take a disciplined long-term approach to investing, regardless of the economic cycle." A bigger Beaumont would bolster the U.S. "We regularly evaluate our global portfolio of businesses and opportunities for growth, depending upon the fit with its strategic business objectives," Exxon spokesman Todd Spitler said. An Exxon spokesman, while declining to discuss possible plans for the Beaumont refinery, said the company was always evaluating growth options. Just weeks ago Exxon unveiled a $1 billion investment in its Antwerp plant. If Exxon presses ahead, the investment would be a further indication that the American oil giant is breaking ranks with many of its big global rivals, who have been looking to sell off refining assets across the world. More modest near-term projects to renew and expand so-called coking units to help refine more heavy crude already are under way, they said. The expansion of the 344,600 barrel-per-day (bpd) Beaumont refinery, if carried out, would be completed by 2020 and potentially double its size with the addition of a third crude distillation unit (CDU), the sources said. ![]() shale oil boom, people with knowledge of the deliberations said. By Erwin Seba HOUSTON (Reuters) - Exxon Mobil Corp is considering a multibillion-dollar plan to expand its Beaumont, Texas, refinery into the country's largest, the first major refining investment of the U.S.
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