Communicator

ExxonMobil's ethylene plant n°3 in Baytown, Texas (Credit: ExxonMobil)

February 7, 2025 | Point Comfort, Texas, USA (ExxonMobil Corp.)

ExxonMobil is evaluating the construction of an $8.6 billion polyethylene plant in Point Comfort, Texas, as part of its global growth strategy. The proposed facility, which would include a large-scale ethane cracker, aims to produce ethylene and polyethylene—key components in plastic manufacturing.

The project is under review following Exxon's application for tax abatements under Texas' Jobs, Energy, Technology, and Innovation Act (JETI). If approved, construction could begin as early as 2026, with operations expected to start in 2031.

The plant would generate approximately 600 permanent and contract jobs and employ over 3,000 workers during peak construction. Exxon projects the facility will contribute $3.6 billion annually to the state's economy once fully operational.

Exxon is also considering alternative locations for the project in the Middle East, Asia, and other parts of North America. The final decision will depend on market conditions and governmental support in competing regions.

#exxonmobil  #polyethylene  #ethylene  #steamcracker  #texas  #usgc  #gulfcoast  #ethanecracker  #gascracker 

The description of the Baytown complex has been updated.


#exxonmobil  #baytown  #baytowncomplex  #baytownrefinery 

ExxonMobil has unveiled an ambitious growth plan to increase its total production of oil and gas to 5.4 million oil-equivalent barrels per day by 2030, representing an 18% increase from current levels.

ExxonMobil News releases | Dec. 11, 2024

KEY PRODUCTION TARGETS

Permian Basin Operations

The company plans to roughly double its production in the Permian Basin to approximately 2.3 million oil-equivalent barrels per day by 20301. This expansion is supported by ExxonMobil's acquisition of Pioneer Natural Resources, which has given them the largest contiguous acreage position in the region1

Guyana Operations

In Guyana, ExxonMobil expects to reach a total production capacity of 1.7 million barrels per day, with gross production growing to 1.3 million barrels per day by 20301. The company plans to develop eight projects in the region by 2030.

FINANCIAL INVESTMENT

Capital Expenditure

▪️ 2025: $27-29 billion in cash capital expenditure1
▪️ 2026-2030: $28-33 billion annually1

Expected Returns

The company projects an additional $20 billion in earnings and $30 billion in cash flow over the next six years. These investments are expected to generate returns of more than 30% over their lifetime4

STRATEGIC FOCUS

By 2030, more than 60% of the company's production will come from advantaged assets (Permian, Guyana, and LNG), up from the current 50%. The company also plans to pursue up to $30 billion in lower emissions investment opportunities while targeting to lower its operated Upstream emissions intensity by 40-50% versus 2016 levels.

#naturalgas  #crudeoil  #exxonmobil  #oildemand  #demandgrowth 

Our technology article describing the alkylation of isoparaffins to form alkylates blend stock for gasoline has been updated.

#hydrofluoricacid  #honeywelluop  #hfalkylation  #hfau  #Lummus  #sulfuricacid  #saau  #elessent  #stratco  #alkysafe  #exxonmobil  #alkemax  #cdalky  #ionicliquid  #isoalky  #airliquide  #lurgieurofuel  #kbr  #ksaat  #alkylene  #alkyclean  #topose  #fba #chinauniversityofpetroleum  #cup  #ionikylation 

ExxonMobil’s Esso division has completed the sale of the Fos-sur-Mer refinery, one of France’s major refineries, and two other oil terminals to Rhone Energies, a consortium formed by Trafigura with Entara LLC. The deal was announced on Friday, November 1, 2024.

The Fos-sur-Mer refinery has a crude oil processing capacity of 140,000 barrels per day. The transaction includes the Toulouse and Villette-de-Vienne terminals, operated by Exxon’s local unit Esso.

This sale marks a significant reduction in Exxon’s refining capacity in Europe, with its total refining capacity in the region decreasing to approximately 1.1 million barrels per day. However, Exxon remains the second-largest refining capacity holder in northwestern Europe, after TotalEnergies.

The sale is part of Exxon’s efforts to divest non-core assets and focus on its core business. The company is also close to selling its 25% stake in a German refinery, MiRO Mineraloelraffinerie Oberrhein GmbH.

#crudeoil  #refining  #refinery  #exxonmobil  #totalenergies  #france  #miro  #rhoneenergies 

Credit: @ExxonMobil, Port-Jérôme (Gravenchon) refinery

ExxonMobil Chemical 🇫🇷 France (EMCF) announced on April 11 the definitive shutdown of the steam cracker and the polyethylene, polypropylene, adhesives and associated logistics facilities units at the Gravenchon site in Port-Jérôme-sur-Seine (Seine-Maritime) in 2024. This will result in the loss of 677 jobs out of a workforce of 2,400 employees in France during 2025, the company said in a press release. In detail, 647 positions will disappear on site and 30 at the company's management in Nanterre (Hauts-de-Seine). The Port-Jérôme refinery activities are not affected. The site will continue to produce and supply fuels, lubricants, base oils and bitumens. Similarly, the activity of Infineum, the joint venture between ExxonMobil and Shell for the production of additives, is not part of the announcement. In 2020, 35 million euros were invested in these operations also located in Gravenchon.

#fuels  #lubricants  #bitumen  #polyethylene  #polypropylene  #steamcracking  #steamcracker  #refining  #refinery  #france  #exxonmobil 

Sipchem announced on July 4th on Linkedin to have "signed an Engineering and procurement Sign off of its Expanded Production Capacity for High-VA  Ethylene Vinyl Acetate ( EVA) production plant."

"This investment will enable Sipchem to produce innovative EVA grades designed to support downstream production of Solar Encapsulate Cells as well as certain Hot Melt Adhesives." the company stated. 

The production plant, based on ExxonMobil's tubular reactor technology, belongs to International Polymers Company, a subsidiary JV of Sipchem and Hanwha Solutions Corporation, and is installed in Al-Jubail, 🇸🇦 KSA. 

With a design capacity of 200,000 tpa, the plant is thought to be running at close to 220,000 tpa. Debottlenecking by an additional 70,000 tpa will bring the plant output close to 290,000 tpa.

The company declined to comment on the engineering solution that will be employed to increase the plant capacity.

#sipchem  #exxonmobil  #saharainternational  #hanwha  #tubularreactor  #ldpe  #eva  #highpressure  #vinylacetate  #saudiarabia  #solarpv 

Enverus Intelligence Research (EIR) analysts have provided an overview of merger and acquisition (M&A) activity within the U.S. upstream sector for both the fourth quarter and the entirety of 2023.

The final quarter of 2023 witnessed unprecedented activity, marking a historical high in observed M&A transactions within the U.S. oil and gas industry, totaling $144 billion. Over the course of the entire year, M&A deals amounted to $190 billion, also setting a new record.

Notably, two significant transactions significantly contributed to these figures: Exxon's acquisition of Pioneer Natural Resources for $65 billion and Chevron's purchase of Hess for $60 billion.

This surge in M&A activity is noteworthy considering the backdrop of a decade-long decline in investment in oil and gas exploration. Despite the identification of major shale oil fields in the U.S., investment in new wells has waned, with industry giants opting to acquire existing assets instead.

Analysts at Dittmar observed that the market is currently characterized by an imbalance, with more buyers than sellers, resulting in escalated prices.

#oil &gas #m &a #upstream  #oilandgas  #exxonm  #chevron