December 1, 2023 [Seeking Alpha]- Exxon Mobil (NYSE:XOM) has started construction of a new diesel production unit at its 260K bbl/day Fawley refinery in the U.K., Dow Jones reported Thursday. marking a significant step in reducing the country’s reliance on diesel imports.
The company said the project represents an investment of more than £800M (~US$1B) and is now in the main construction phase.
Exxon (XOM) said capacity of the new diesel unit will total 38K bbl/day when complete, with first production expected next year and full capacity ramp-up scheduled for 2025.
The company also said it plans to add a new hydrogen plant at the Fawley complex, potentially paving the way for the production of sustainable aviation fuel.
Exxon (XOM) recently was awarded funding from the U.K. government to explore the production of sustainable aviation fuel at Fawley, which is linked to London’s Heathrow airport by pipeline.
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