Exxon Mobil (NYSE:XOM) said Tuesday it made a final investment decision for a major reconfiguration project at its Baytown, Texas, refinery, increasing production of higher-demand products including diesel and base stocks.
Exxon (NYSE:XOM) said the project, which is planned to start up in 2028, will enable the expansion of the product offering to include high-quality Group III base stocks, key building blocks for premium lubricants, positioning the company as the only supplier offering the full range of Group I-V base stocks following the project’s completion.
The company said it will evaluate similar reconfigurations at other U.S. Gulf Coast sites, “showcasing the flexibility and enduring competitiveness of our portfolio.”
Exxon’s (XOM) Baytown complex at the Houston Ship Channel is one of the world’s largest refining and petrochemical facilities, and includes a plastics plant in nearby Mont Belvieu.