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ExxonMobil invests in diesel at Antwerp refinery via new delayed coker

07.02.2014  | 

The company will add a delayed coker unit at the 320,000 bpd refinery in Belgium that will convert high-sulfur oil to diesel for use in trucks and ships, the Irving, Texas- based company said.

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By RAKTEEM KATAKEY
Bloomberg

ExxonMobil, the world’s biggest energy company by market value, will invest $1 billion to increase diesel production at its Antwerp refinery .

The company will add a delayed coker unit at the 320,000-bpd refinery in Belgium that will convert high-sulfur oil to diesel for use in trucks and ships, the Irving, Texas- based company said in a statement. 

ExxonMobil has spent $2 billion in the past decade on expansions in the refinery, including a 130 megawatt power plant and hydrotreater unit that reduces sulfur from fuels, the company said.

“The investment addresses an industry shortfall in capability to convert fuel oil to products such as diesel,” ExxonMobil said in the statement.

The expansion “is the first of several being evaluated to further strengthen strategic refineries in Europe to more successfully face the challenging industry environment.”

Exxon’s announcement comes after Total, the biggest refiner in western Europe, reported a 10% decline in profit in the quarter ended March 31 on smaller crude-processing margins caused by overcapacity. 

European refinery margins shrank to $6.60/ton of crude processed in the three months from $26.90 a year earlier, Total said in April, citing its European Refining Margin Indicator.



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Hassan
07.10.2014

petroleum is meant to have more buyers than sellers, complainants about market saturation probably need to 258

Jaime Bárcena -México-
07.10.2014

It is not so clear what Exxon really did to get such benefits they issued, into its refinery performance and yield of products indeed. Exxon did not explain clear how do they compare such oranges with apples ...??
Because the change of process to convert crude residue (from fuel oil) by a "coker delayer unit" which operation in utility terms is expansive, Exxon said they will improve their performance, how will they use petcoke?, and how do they compensate liquids yield reduction?, with such process change.

Leon
07.05.2014

At the same time, Polish ORLEN LIETUVA decided to close great Refinery in Majeikiy, Lithuania, because of fuel market over-saturated

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