IRVING, TEXAS--(BUSINESS WIRE)--
ExxonMobil said today that it has made a final investment decision to expand the Fawley refinery in the United Kingdom to increase production of ultra-low sulfur diesel by almost 45 percent, or 38,000 barrels per day, along with logistics improvements.
“ExxonMobil continues to invest in the Fawley refinery and chemical plant, Britain’s largest integrated facility,” said Bryan Milton, president of ExxonMobil Fuels and Lubricants Company. “This investment will make Fawley refinery the most efficient in the United Kingdom, supporting Esso’s industry-leading logistics and fuels marketing operations.”
The investment will help reduce the need to import diesel into the United Kingdom, which imported about half of its supply in 2017.
The more than $1 billion investment includes a hydrotreater unit to remove sulfur from fuel, supported by a hydrogen plant, which combined will also help improve the refinery’s overall energy efficiency. Ultra-low sulfur fuels lead to improved air quality when powering the latest technology engines on tractor-trailers, buses, marine vessels and off-road equipment.
Detailed engineering and design is underway. Construction is scheduled to begin in late 2019, subject to regulatory approval, and startup is expected in 2021. At its peak, building activity will support up to 1,000 construction jobs.
Located on Southampton Water, the Fawley site also has strategic access to distribution logistics across southern England and export access to other markets in Europe and the Atlantic basin.
Alongside recent investments at ExxonMobil’s refineries on the U.S. Gulf Coast, Rotterdam, Antwerp, and Singapore, the project will contribute to ExxonMobil’s announced plans to significantly increase the earnings potential of its downstream business by 2025.
ExxonMobil, the largest publicly traded international oil and gas company, uses technology and innovation to help meet the world’s growing energy needs. ExxonMobil holds an industry-leading inventory of resources, is one of the largest refiners and marketers of petroleum products, and its chemical company is one of the largest in the world. For more information, visit www.exxonmobil.com or follow us on Twitter www.twitter.com/exxonmobil.
Cautionary Statement: Statements of future events or conditions in this release are forward-looking statements. Actual future results, including project plans, schedules, timing, and capacities and economic and environmental outcomes could differ materially due to changes in market conditions affecting the oil and gas industry or long-term oil and gas price levels; political or regulatory developments including changes in environmental regulations and obtaining necessary government permits; timely completion of construction projects; future technological developments; technical or operating factors; the outcome of commercial negotiations; and other factors cited under the caption “Factors Affecting Future Results” on the Investors page of our website at exxonmobil.com. The term “project” as used in this release can refer to a variety of different activities and does not necessarily have the same meaning as in any government payment transparency reports.
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