ExxonMobil to invest over $1bn in Antwerp refinery
ERJ staff report (PR)
Antwerp, Belgium - ExxonMobil is to install a new delayed coker unit at its Antwerp refinery to convert heavy, higher sulfur residual oils into transportation fuels products such as marine gasoil and diesel fuel.
The $1-billion-plus (€0.73bn+) project will be carried out through affiliate Esso Belgium, a division of ExxonMobil Petroleum & Chemical BVBA, said a 2 July announcement from ExxonMobil. The goal, it said, is to expand the refinery’s ability to help meet energy needs throughout northwest Europe.
The investment comes at a time of over-capacity, low margins and industry-wide losses in the European refinery sector but, said ExxonMobil, addresses a shortfall in conversion capability, particularly for diesel vehicle fuels.
“Our investments at this refinery, totaling more than $2 billion in less than a decade, will contribute to meeting the demand for fuels and finished products from our customers in Europe,” said Jerry Wascom, incoming president of ExxonMobil Refining & Supply Co.
The new delayed coker unit will also strengthen ExxonMobil’s integrated downstream and chemical portfolio in northwest Europe, according to Stephen Hart, regional director of ExxonMobil Refining & Supply Co.
“This investment will add to our product slate at the Antwerp refinery and deliver much needed cleaner diesel to our European customers,” said Hart.