ExxonMobil to Invest over $1 Billion to Increase Cleaner Diesel Supply
FAIRFAX, Va.--(BUSINESS WIRE)-- ExxonMobil Refining & Supply today announced it 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.
"This underscores the company's ongoing commitment to meeting the growing needs of the marketplace, while, at the same time, providing cleaner burning fuels to consumers. Our increase in diesel production at these three sites will be equal to the diesel produced from about four average-size refineries," said Sherman Glass, President, Refining & Supply. "In combination with cleaner-burning engines and the latest vehicle emissions control technologies, this low sulfur diesel reduces emissions in both on-road transportation, and off-road industrial sectors."
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.
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.
About ExxonMobil Refining & Supply
ExxonMobil Refining & Supply operates a global network of reliable and efficient manufacturing plants, transportation systems, and distribution centers that provide a range of fuels, lubricants, and other high-value products and feedstocks to our customers around the world.
About ExxonMobil Baytown, Baton Rouge and Antwerp Refineries
-- 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.
CAUTIONARY STATEMENT: Business plans discussed in this release are forward-looking statements. Actual future results, including capital expenditures and the impact of refinery upgrades, could differ materially due to changes in applicable law or regulation; changes in supply and demand for diesel fuels; the outcome of commercial negotiations; technical or operating factors; and other factors discussed under the heading "Factors Affecting Future Results" on the "Investors" section of our website at www.exxonmobil.com.
Source: Exxon Mobil Corporation
Released December 16, 2008