ExxonMobil May Add Gulf Coast Polypropylene Capacity
Exxon Mobil Corp. has begun detailed engineering work on a potential U.S. Gulf Coast project to expand propylene (PP) manufacturing capacity by up to 450,000 tons a year, the company announced Tuesday.
“ExxonMobil is well positioned to take advantage of the growing global demand for higher-value products, in both North America and the high-growth Asia Pacific region,” John Verity, president of ExxonMobil Chemical Co., said in a written statement.
“Abundant supplies of domestically produced oil and natural gas have reduced energy costs and created new sources of feedstock for U.S. chemical manufacturing,” continued Verity. “Most of our planned investment in the Gulf Coast region is focused on supplying emerging markets like Asia with high-demand products, which ultimately will spur new economic growth locally.”
According to ExxonMobil, the new facility would manufacture advanced polypropylene products that could be used in automotive, appliance and packaging applications. The company did not specify exactly where it might expand polypropylene production, but it noted the potential project would create more than 600 jobs during peak construction and more than 60 permanent operations positions.
“Polypropylene delivers performance and sustainability benefits to produce a wide variety of consumer products,” noted Cindy Shulman, ExxonMobil’s vice president of plastics and resins. “It’s a versatile material providing high impact resistance and high stiffness to lightweight applications. It is safe, can be recycled and requires less energy to produce when compared with other plastics.”
ExxonMobil said that it anticipates making a final investment decision on the polypropylene expansion this year. Startup of the facility, which would likely cost “several hundred million dollars,” could occur as soon as 2021, the company stated.
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
- ExxonMobil Racks Up Discoveries in Guyana Block Eyed by Chevron
- Oil Market Sentiment Has Improved Significantly
- EU, US Eye Collaboration on Nuclear Materials
- USA Driving Activity to Increase to All-Time Highs
- TC Energy to Sell Prince Rupert Gas Pipeline Project to First Nation
- EU Electricity Export to Ukraine Up 94 Percent in Two Years
- China Coal Output Falls for First Time since Government Ordered More
- BP Pulse Buys One of Europe's Largest Truck Stops
- UK CCUS Plans Outdated: Think Tank
- North America Enters Rig Loss Streak
- Norway Regulator Blasts Proposal to Halt New Oil and Gas Permits
- Chinese Mega Company Makes Major Oilfield Discovery
- EIA Drops 2024 Henry Hub Gas Price Forecast
- EIA and Standard Chartered Offer Up Latest Oil Price Predictions
- Red Sea Region Sees Another Watershed Incident
- Chevron Oil Project in Kazakhstan to Cost $48.5B
- OPEC Voices Encouragement after IEA Affirms Support for Oil Security
- Biden Govt Bares Strategy for Freight Charging, Hydrogen Fueling Infra
- Ukraine Hits Third Russian Refinery In Escalating Drone Strikes
- Rystad Looks at the Buzz Around White Hydrogen
- VIDEO: Missile Attack Kills Crew Transiting Gulf of Aden
- Norway Regulator Blasts Proposal to Halt New Oil and Gas Permits
- Chinese Mega Company Makes Major Oilfield Discovery
- What Is the Biggest Risk to Offshore Oil and Gas Personnel in 2024?
- Is Peak Oil Demand Close?
- Vessel Sinks in Red Sea After Missile Strike
- JP Morgan, Standard Chartered Reveal Latest Oil Price Forecasts
- Exxon Rights in Stabroek Do Not Apply to Hess Merger with Chevron: Hess
- Rystad Forecasts Net Production of Top Permian Producers in 2024
- Analysts Reveal Latest Oil Price Outlook Following OPEC+ Cut Extension