ExxonMobil to expand Australia refinery to supply more diesel, jet fuel
[MELBOURNE] ExxonMobil Corp said on Thursday it plans to expand its Altona refinery in Australia by 10,000 barrels per day (bpd) to 90,000 bpd to increase output of diesel and jet fuel for the local market.
The project, due to be completed in 2017, will also improve the energy efficiency of the plant in Melbourne by recovering some waste heat. "ExxonMobil Australia is focused on making strategic investments to improve our competitive position," the company's local chairman Richard Owen said in a statement.
ExxonMobil's main competitor in the local market is Vitol-controlled Viva Energy Australia, which owns the 120,000 bpd Geelong refinery near Melbourne.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Energy & Commodities
Seatrium unit to fully redeem S$500 million worth of floating-rate bonds early
Anglo rejects BHP takeover bid as significantly undervalued
India rice prices at three-month low on shrinking demand
Gold prices set for weekly decline ahead of US inflation data
Pricey coffee is here to stay as hoarding, heat hit Vietnam supply
Oil settles higher as weak US economic growth offset by supply concerns