ExxonMobil Finalizes Beaumont Refinery Expansion

SEATTLE (Oil Monster): Irving, Texas-headquartered multinational oil and gas corporation, ExxonMobil, announced its decision to complete the previously announced expansion of its Beaumont Refinery in Texas.

The $1.2 billion expansion is expected to significantly boost the gasoline and diesel production from the facility. This is considered to be the first major expansion to U.S. crude processing capacity in more than a decade.

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The Beaumont refinery currently has a processing capacity of nearly 369,000 barrels of crude oil per day and a manufacturing capacity of approximately 2.8 billion gallons of gasoline per year.

The commencement of operations of the 250,000-bpd crude distillation unit (CDU) is expected to enhance the refinery’s processing capacity by at least 68%. Also, this will make Beaumont refinery the second largest refinery in the country. The CDU will convert crude into feedstocks for use by other units within the refinery. As per estimates, it will lead to creation of 120,000 bpd of refined products. Initially, it is unlikely to deliver a huge boost to gasoline and diesel generation.

ExxonMobil’s Beaumont refinery expansion will immensely contribute towards rebalancing of global oil markets.