Exxon considering expansion of Beaumont refinery


Exxon Mobil (NYSE:XOM) is weighing a possible multibillion-dollar expansion of its 344K bbl/day Beaumont, Tex., refinery that could make it the largest in the U.S. by 2020, Reuters reports.

XOM is said to be considering an expansion to 700K-800K bbl/day in total refinery capacity at Beaumont, which would surpass Motiva's 600K-plus bbl/day Port Arthur refinery.

XOM reportedly is focusing on the possible addition of a third crude distillation unit at the refinery, and its size would determine how much capacity would increase; the plans also would include replacing four coking unit drums and adding two new coker drums.

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Comments (4)
  • User 353732
    , contributor
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    Given the projected growth in light sweet crude production in Texas and attractive export markets for refined products, such an expansion would create substantial new value for XOM
    25 Jul 2014, 02:25 PM Reply Like
  • devlau20
    , contributor
    Comments (623) | Send Message
     
    XOM must create new/more value for it's shareholders. Buy backs & minuscule dividend increases are wholly inadequate to the task. This GIANT has stumbled on net profit & year over year revenue diminution for far too long. It's XOM for Christ's sake. Get that engine moving, XOM has been far too slow on the uptake for way to long.
    25 Jul 2014, 02:50 PM Reply Like
  • fairey281
    , contributor
    Comments (3) | Send Message
     
    Exxon Mobil's focus is on Willerson's $40 million base salary and similar treats for other top execs.
    26 Jul 2014, 10:31 AM Reply Like
  • devlau20
    , contributor
    Comments (623) | Send Message
     
    It's Roy Tillerson btw. No one is worth that much money (& I'm sure you're on the low side of his annual package), but corporate execs have been out of touch w/reality for so long, there's no way back. Keep in mind stock buy backs, (huge at XOM), marginally help shareholders like us, but are a windfall to top execs.
    It's all about greed. As long as a limited few control the majority of shares, the system will always be gamed.
    26 Jul 2014, 02:36 PM Reply Like
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