ExxonMobil invests in diesel at Antwerp refinery via new delayed coker
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.
By RAKTEEM KATAKEY
ExxonMobil, the worlds 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
in Belgium that will
convert high-sulfur oil to diesel for use in trucks and
ships, the Irving, Texas- based company said in a
ExxonMobil has spent $2 billion in the past decade on expansion
s 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.
is the first of
several being evaluated to further strengthen strategic
refineries in Europe
to more successfully face
the challenging industry environment
Exxons 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.
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