• Anayo Ezugwu

IN order to serve the growing Permian Basin production, ExxonMobil Corporation has acquired a crude oil terminal in Wink, Texas, United States of America  from Genesis Energy LP. The terminal is located in the rapidly growing Delaware Basin, part of Permian Basin – one of the most prolific plays in the United States.

The terminal is strategically positioned to handle Permian Basin crude oil and condensate for transport to Gulf Coast refineries and marine export terminals. The facility is interconnected to the Plains Alpha Crude Connector pipeline system, and is permitted for 100,000 barrels per day of throughput with the ability to expand.

Gerald Frey, president, ExxonMobil Pipeline Company, said the terminal provides crude producers with a full range of logistical options including truck, rail and inbound and outbound pipeline access, not only for ExxonMobil’s production, but for all Permian Basin producers. “It also provides shippers with efficient and cost-effective access to market destinations in the Gulf region,” he said.

This acquisition marks ExxonMobil’s first terminal in the Permian Basin to be anchored by the corporation’s newly acquired Delaware Basin acreage, previously announced in January. The Permian Basin is one of the most prolific oil and natural gas geologic basins in the United States. It is an engine of America’s energy resurgence and has been delivering resources for vehicles, manufacturing, power generation and homes for many decades.

The basin spans West Texas and south eastern New Mexico. Enhanced oil recovery techniques – first water flooding and then carbon dioxide injection – have had major applications in the Permian. The basin holds the largest crude oil fields in the United States, including more than 20 of the nation’s top 100 oil fields. The Permian is delivering transformational production growth.

Meanwhile, ExxonMobil Chemical Company has equally announced that it has commenced production on the first of two new 650,000 tons-per-year high-performance polyethylene lines at its plastics plant in Mont Belvieu, Texas. The full project, part of the company’s multi-billion dollar expansion project in the Baytown area and ExxonMobil’s broader growing the Gulf expansion initiative, will increase the plant’s polyethylene capacity by approximately 1.3 million tons per year.

The Mont Belvieu plant capacity will total more than 2.5 million tons per year, making it one of the largest polyethylene plants in the world. These performance polyethylene products will deliver significant sustainability benefits enabling lighter weight higher performance packaging, lower energy consumption and reduced emissions.

A significant portion of Mont Belvieu polyethylene will be exported from the Port of Houston later this month. At peak, the site will ship more than 200 containers a day. Neil Chapman, president, ExxonMobil Chemical Company, said the expansion of Mont Belvieu facility further enhances the company’s ability to meet growing global demand for high-performance polyethylene products around the world. “The investments we’re making through our Growing the Gulf initiative will not only expand our existing manufacturing and export capacity, but will further stimulate local economic growth and create thousands of full-time jobs.”

ExxonMobil is planning to invest more than $20 billion over 10 years to build and expand manufacturing facilities in the U.S. Gulf region. These projects are expected to create more than 45,000 jobs, including more than 12,000 full-time jobs. The expansion covers 11 major chemical, refining, lubricant and liquefied natural gas projects along the Texas and Louisiana coasts.

ExxonMobil Chemical Company is one of the largest petrochemical companies worldwide. The company holds leadership positions in some of the largest-volume and highest-growth commodity petrochemical products in the world. ExxonMobil Chemical Company has manufacturing capacity in every major region of the world, serving large and growing markets. More than 90 percent of the Company’s chemical capacity is integrated with large refineries or natural gas processing plants.

– Oct 20, 2017 @ 12:52 GMT |