01-07-2014

ExxonMobil to install a new delayed coker unit at its Antwerp refinery

ExxonMobil affiliate Esso Belgium, a division of ExxonMobil Petroleum & Chemical  B.V.B.A., announced today it plans to install a new delayed coker unit at its Antwerp refinery to convert heavy, higher sulfur residual oils  into transportation fuels products such as marine gasoil and diesel  fuel. The new unit will expand the refinery’s ability to help meet  energy needs throughout northwest Europe, despite a challenging industry  environment.

“Our investments at this refinery, totalling more than $2 billion in less  than a decade, will contribute to meeting the demand for fuels and  finished products from our customers in Europe,” said Jerry Wascom,  incoming president of ExxonMobil Refining & Supply Company. “This new  unit, along with the recently completed 130 megawatt cogeneration unit and diesel  hydrotreater at the Antwerp complex, reaffirms ExxonMobil as a  leader in the European and global energy markets.”

Despite extremely low margins and industry-wide losses in Europe, due  primarily to excess refining capacity, ExxonMobil is investing for the  long term in its strategic Antwerp refinery. The investment addresses an  industry shortfall in capability to convert fuel oil to products such as  diesel.

This project demonstrates ExxonMobil’s long-term view and disciplined  approach toward business investments, and is the first of several being  evaluated to further strengthen strategic refineries in Europe to more  successfully face the challenging industry environment. ExxonMobil’s  annual Outlook for Energy projects that Europe’s demand for  diesel fuel will remain high in the coming decades for trucking and  other commercial transportation.

“In addition to enhancing ExxonMobil’s strongly performing Antwerp  facility, the new delayed coker unit will further strengthen  ExxonMobil’s integrated downstream and chemical portfolio in northwest  Europe to better compete in the challenging global industry  environment,” said Stephen Hart, regional director of ExxonMobil  Refining & Supply Company. “This investment will add to our product  slate at the Antwerp refinery and deliver much needed cleaner diesel to  our European customers.”