By Aisha Al-Muslim

 

ExxonMobil Mobil Corp. (XOM) will invest more than $1 billion to expand the Fawley refinery and chemical plant in the U.K., Britain's largest integrated facility.

The oil and gas company said Wednesday its investment will increase production of ultra-low sulfur diesel by almost 45%, or 38,000 barrels per day. The project is expected to help reduce diesel imports into the U.K., which imported about half of its supply in 2017, the company said.

The investment of the Fawley site, located along Southampton Water, also includes improvements that will support Esso's logistics and fuels marketing operations, the company said.

The project calls for building a hydrotreater unit to remove sulfur from fuel and a new hydrogen plant meant to improve the refinery's energy efficiency. Ultra-low sulfur fuels lead to improved air quality when powering engines on tractor-trailers, buses, marine vessels and off-road equipment, the company said.

Construction is scheduled to begin late this year, subject to regulatory approval, and startup is expected in 2021. Up to 1,000 construction jobs are expected to be supported by the project.

The Fawley project, along with some other recent investments at ExxonMobil's refineries around the world, is expected to contribute to the company's plans to significantly increase the earnings potential of its downstream business by 2025.

 

Write to Aisha Al-Muslim at aisha.al-muslim@wsj.com

 

(END) Dow Jones Newswires

April 24, 2019 11:00 ET (15:00 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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