US based oil and gas firm ExxonMobil intends to expand its domestic crude processing capacity at Beaumont Refinery by 20,000 barrels of oil per day.
The expansion of capacity is part of the firm’s intention to boost its integrated downstream portfolio in southeast Texas.
ExxonMobil Refining and Supply president Jerry Wascom said: “This project will grow our capacity and flexibility to process light crude oils.
“ExxonMobil continues to strengthen its portfolio of world-class refining assets.”
“Building on the recent increases in domestic oil and gas production, this investment further strengthens the competitiveness of the company’s strategic assets in North America and enhances US energy security.”
Expansion plans for the refinery will be supported by affordable supplies of US light crude oil from shale.
ExxonMobil expects the facility to cater to the competitive and high-demand energy markets in the US.
ExxonMobil Beaumont refinery manager Fernando Salazar said: “ExxonMobil continues to strengthen its portfolio of world-class refining assets.
“The expanded crude unit at Beaumont refinery supports the company’s position as a leader in the global energy market by improving the production slate, and enabling improvement in the product yield in a highly energy-efficient manner that will further strengthen the industry-leading position of our assets.”