2 May 2019
DETAILS
ExxonMobil said today that it will proceed with
a $2 billion investment to expand
its Baytown, Texas chemical plant, which will create
* approximately 2,000 jobs during construction
and contribute to
* the approximate 15 percent return
the company expects from its chemical investments.
is the largest integrated petrochemical complex in the U.S.
and is one of the most technologically advanced
refining and petrochemical complexes in the world.
Founded in 1919, the complex is located on
approximately 3,400 acres along the Houston Ship Channel,
about 25 miles east of Houston.
The facility includes a refinery, chemical plant,
olefins plant, plastics plant and global technology center.
********************************************************
Darren W. Woods,
ExxonMobil chairman and chief executive officer
“Our substantial investments in the United States
support ExxonMobil’s long-term growth plans
and will result in thousands more high-paying jobs,”
“Through the billions of dollars that we’re investing
in the Permian Basin to increase oil production
and the expansion at our operations along the Gulf Coast,
our company is making significant, lasting contributions
to the U.S. economy and
the many communities where we operate.”
Woods said the company’s recent investments, such as
a major expansion of oil and gas production
in the Permian Basin and
the planned expansion at Baytown,
will continue to boost the U.S. economy.
“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,”
“Global demand for chemicals is expected to be
greater than energy demand growth and GDP growth
over the next 20 years,”
The expansion, expected to start up in 2022, includes
a new Vistamaxx™ performance polymer unit,
which produces products that offer higher levels of elasticity,
softness and flexibility, attributes that contribute to
a reduction in materials used
and increased performance in everyday products.
The new unit will produce about 400,000 tons
of Vistamaxx™ polymers a year.
The project will also enable ExxonMobil to enter
the linear alpha olefins market.
Linear alpha olefins are used in numerous applications,
including high-performing engine and industrial oils,
Public Company Information: NYSE: XOM
Contact: Media Line (972) 940-6007
WWW.CHEMWINFO.COM BY KHUN PHICHAI
