ExxonMobil Corp. on Thursday launched a $2 billion investment to expand its already massive chemical complex in Baytown east of Houston.
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Driven by the Permian Basin, ExxonMobil Corp. reported stronger upstream production and raised its projections in the play, but the solid operational news came as downstream and chemical results pulled first quarter profits down on “challenging industry margin environments.”
ExxonMobil Corp. on Friday pulled the trigger to fund construction of a polypropylene production unit in Baton Rouge, LA, which would expand natural gas-fed feedstock capacity along the Gulf Coast by up to 450,000 tons/year.
Total SA and Novealis Holdings LLC plan to more than double capacity at the natural gas-fueled Bayport Polymers LLC complex near Houston after agreeing to move forward on a 625,000 ton/year polyethylene unit.
The overflowing basket of investments since 2010 by the U.S. chemical and plastics industry now surpasses $200 billion, nearly all of it tied to plentiful natural gas and natural gas liquids (NGL) supply, the American Chemistry Council (ACC) said Tuesday.
Fueled by abundant natural gas stores from the U.S. onshore, ExxonMobil Corp. said Tuesday its 1.5 million ton/year ethane cracker underway southeast of Houston is mechanically complete, with startup on track before midyear.
China’s Wanhua Chemical said it will develop a $1.12 billion chemical manufacturing complex in Louisiana, noting the state’s proximity to abundant natural gas supply as well as waterborne transport.
North American Petrochemical Industry Warily Eyeing Potential Overcapacity, a Trump Pullback on Trade
The North American petrochemical complex is enjoying a stunning renaissance from flexible natural gas supply and low commodity prices, but uncertainty is looming from a surfeit of manufacturing capacity, strengthening overseas competition and a Trump presidency that has promised to revamp trade, executives said Thursday.
ExxonMobil Corp. and the Georgia Institute of Technology (Georgia Tech) said a team of scientists may have broken the code to reduce the amount of energy and carbon emissions associated with making plastics.
SABIC (Saudi Basic Industries Corp.) and an affiliate of ExxonMobil Corp. are considering the development of a jointly owned petrochemical complex on the U.S. Gulf Coast.