ExxonMobil to invest in Belgian refinery

ExxonMobil has unveiled plans to invest over $1bn to install a delayed coker unit at its Antwerp refinery in Belgium.

The unit will convert heavy, higher-sulfur residual oils into transportation products like marine gas oil and diesel fuel.

The move is part of ExxonMobil’s long-term strategy to help the refinery better compete in Europe’s challenging industry environment.

The current production capacity of the Antwerp refinery, which has been in operation since 1953, is about 320,000 barrels a day.

ExxonMobil Refining & Supply Company incoming president Jerry Wascom said that the investments at the refinery, totalling over $2bn in less than 10 years, will contribute to meet the demand for fuels and finished products from the company’s customers in Europe.

"This new unit, along with the recently completed 130MW cogeneration unit and diesel hydrotreater at the Antwerp complex, reaffirms ExxonMobil as a leader in the European and global energy markets," Wascom added.

ExxonMobil estimates that the demand for diesel fuel in Europe will remain high in the coming years for trucking and other commercial transportation.

The Antwerp project is the first of several ExxonMobil developments under consideration to further expand its European refineries.

ExxonMobil Refining & Supply Company regional director Stephen Hart said: "This investment will add to our product slate at the Antwerp refinery and deliver much needed cleaner diesel to our European customers."

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Image: ExxonMobil Refinery Antwerp. Photo: courtesy of Business Wire.