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ExxonMobil (US) invests USD 1 billion in Antwerp (Flanders)

US-based oil and gas company ExxonMobil will plow a staggering USD 1 billion—EUR 731 million—into its oil refinery at the Port of Antwerp (Flanders). There, the company will install a new delayed coker unit to produce marine gasoil and diesel fuel.

With the new unit, ExxonMobil is investing for the long term in its strategic Antwerp refinery. “In less than a decade, our investments in Antwerp total over USD 2 billion”, explains Jerry Wascom, incoming president of ExxonMobil Refining & Supply Company. “With this project, we aim to expand the refinery’s ability to meet energy needs throughout northwest Europe.”

“The investment, indeed, enables us to enhance our already strongly performing Antwerp facility”, adds Stephen Hart, regional director of ExxonMobil. “Moreover, the new unit will further strengthen our chemical portfolio and thus reinforce our competitive position in the challenging global industry environment.”

The Antwerp-based refinery of Esso Belgium—a division of ExxonMobil Petroleum & Chemical—has been operational since 1953 and produces nearly 320,000 barrels a day.

Reported by
De Morgen
2 July 2014

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