ExxonMobil looks to invest $240 million in improvements for its Baton Rouge refinery
ExxonMobil recently announced that after two years in the making, the company will invest as much as $240 million dollars in its Baton Rouge complex for modernization opportunities. The company hopes to make the facilities more competitive in a tough current market and even prepare it for expansion down the road.
This plan would include modernization for the purpose of allowing new types of crude feedstock to the units while also reducing emissions. This new crude could come from the Permian and from the Canadian oil sands. In regards to the environmental impact, ExxonMobil has already pledged to cut emissions at this refinery by 10%. ExxonMobil hopes to reach a Final Investment decision for this plan next year, dependent upon the approval of any eligible tax breaks.
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