Exxon, SABIC Start Up Giant New Texas Petrochemical Complex
01.24.2022 By Ricardo Perez - NEWS

January 23, 2022 [SeekingAlpha] – Exxon Mobil (NYSE:XOM) and Saudi Arabia’s SABIC have officially started operations at their 50-50 joint venture Gulf Coast Growth Ventures ethane cracker and derivatives complex near Corpus Christi, Texas, the Houston Business Journal reports.

 

The plant specializes in production of ethane-derived petrochemicals and materials, and its ethane steam cracker, with a capacity to produce 1.8M metric tons/year of ethylene, is designed to be largest in the world.

The ethylene unit will feed two polyethylene units with combined capacity of 1.3M mt/year and a monoethylene glycol unit with production capacity of 1.1M mt/year.

The companies say the GCGV complex will help meet growing global demand for performance products with its production of raw materials used for packaging, agricultural film, construction materials, clothing and automotive coolants.

Exxon’s market cap has pushed back above $300B for the first time in more than two years, after the stock has rallied 20% YTD.

Click Here to Access a 7,000 Tank Terminal Database With a Pro Trial

7,000 terminals as per the date of this article. Click on the button and register to get instant access to actionable tank storage industry data

No-shipping Zone Established In Baltic Sea After Nord Stream Gas Leak
10.05.2022 - NEWS
October 5 , 2022 [Safety 4 Sea] – Denmark imposed a no-shipping zone in Baltic Sea after Nord ... Read More
US EPA Revokes Permit For Oil Terminal Off Texas
10.05.2022 - NEWS
October 5 , 2022 [Safety 4 Sea] – The U.S. Environmental Protection Agency (EPA) has revoked th... Read More
Eesti Gaas CEO: Gas Market Competitiveness Needs Access to LNG Terminal
10.05.2022 - NEWS
October 5 , 2022 [ERR News] – The CEO of natural gas supplier Eesti Gaas, Margus Kaasik, says t... Read More
OPEC & Allies Alert to Changes in Crude Oil Market: Official
10.05.2022 - NEWS
October 5, 2022 [Ukranews] – The secretary general of the Organization of the Petroleum Exp... Read More