ExxonMobil to Proceed with China Mega Chemical Project Investment
11.15.2021 - NEWS

November 15, 2021 [icis.com] – US energy giant ExxonMobil has made a final investment decision on a multi-billion-dollar chemical complex in Guangdong province in southern China.

 

The greenfield project includes a 1.6m tonne/year flexible feed steam cracker, three performance polyethylene (PE) lines, and two differentiated performance polypropylene (PP) lines, ExxonMobil said late on Monday.

Construction is underway at the Dayawan Petrochemical Industrial Park in Huizhou, it said.

The cracker capacity was higher than the previously announced 1.2m tonnes/year in 2019.

The site will produce performance polymers used in packaging, automotive, agricultural, and consumer products for hygiene and personal care, mainly targeting Chinese domestic markets.

“Demand for performance polymers will continue to increase in China, and we’re well positioned to meet the needs of that growing market,” ExxonMobil Chemical president Karen McKee said.

ExxonMobil may mainly secure feedstock such as naphtha from imports, ICIS senior analyst Anita Yang said.

In 2019, the company had said that the project would have the capacity to produce 850,000 tonnes/year of linear low density PE (LLDPE); 500,000 tonnes/year of low density PE (LDPE); and 850,000 tonnes/year of PP.

The project, which was slated for start-up in 2023, had received approval from the Guangdong provincial government two years ago.

“ExxonMobil is prioritizing near-term capital investments on advantaged assets with the highest potential value and ability to generate attractive shareholder returns,” the company said.

“These include chemicals projects to grow high-value performance products by 60% by 2027,” it said.

In the US, its joint venture chemical complex in Corpus Christi, Texas with Saudi petrochemical major SABIC “is in the process of starting up”, ExxonMobil said.

Click Here to Access Today 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

Kenya's New Oil Terminal Ready for Test Run
12.06.2021 - NEWS
December 6, 2021 [TheEastAfrica] – Completion of the new Kipevu Oil Terminal in Mombasa wil... Read More
Shell Completes Sale of its Permian Business to ConocoPhillips
12.06.2021 - NEWS
December 6, 2021 [PRnewswire] – Shell Enterprises LLC, a subsidiary of Royal Dutch Shell pl... Read More
Brazil’s Northeast Set to Get a New Fuels Terminal
12.06.2021 - NEWS
December 6, 2021 [BnAmericas] – Brazilian waterways regulator Antaq will launch a call for ... Read More
ADNOC to Invest in New UAE Liquids Terminal
12.06.2021 - NEWS
December 6, 2021 [TheMaritimeStandard] – The Maritime Standard (TMS), publishes a regular e... Read More