Home / Knowledge / News / Textiles / ExxonMobil investment expands US petrochemical sector
ExxonMobil investment expands US petrochemical sector
14
Mar '13
New investment-including a world-scale ethylene steam cracker proposed by ExxonMobil-is expanding the U.S. petrochemical industry’s position as a global producer, Steve Pryor, president of ExxonMobil Chemical Company, said in a speech at the IHS CERAWeek 2013 conference.

“For the first time in more than a decade, major capacity additions have been announced that convert ethane, a natural gas liquid, to ethylene, the largest petrochemical building block,” Pryor said. He estimated the announced additions are equivalent to six to eight new world-scale steam crackers.

“While all announced projects may not materialize, the U.S. industry is clearly poised to expand its position as a leading petrochemical producer. With 85 percent of global demand growth projected to occur in emerging markets, this is great news for U.S. exports,” Pryor said.

“ExxonMobil, as the largest U.S. chemical manufacturer and natural gas producer, is developing a unique project that builds on our proven integration model,” Pryor said. “It will be sustained over the ups and downs of the business cycle by advantages in integration, scale and premium products.”

ExxonMobil Chemical has filed permit applications for a multibillion-dollar expansion at its Baytown, Texas, site, already the country’s largest integrated refining-chemical producing site. The project will convert ethylene from a new world-scale steam cracker to premium polyethylene products to serve growing markets around the world. Feedstock and energy supplies will be coordinated with ExxonMobil’s upstream business.

The benefits for the Greater Houston area are significant and will grow if the project receives the necessary permits and proceeds to the construction phase. Pryor estimated that the project would provide 10,000 jobs at the peak of construction. The proposed project would also have a multiplier effect and create an additional 3,800 other jobs in the area and increase regional economic activity by $870 million per year, he added.

Pryor said, “Just five years ago, American chemical production was in steady decline due largely to the rising price of natural gas. The U.S. was on the verge of becoming a net chemical importer. Growing supplies of shale gas and gas liquids have changed all that.

"North American chemical manufacturers now have a major cost advantage over competitors around the world that rely on more expensive, oil-based feedstocks. This has boosted profitability and enabled the industry to regain its position as America’s largest exporter.”

About ExxonMobil Chemical

ExxonMobil Chemical is one of the world’s premier petrochemical companies with manufacturing, technology, and marketing operations around the world. The company delivers a broad portfolio of products and solutions efficiently and responsibly, with a commitment to create outstanding customer and shareholder value.

ExxonMobil Chemical endorses the principles of sustainable development, including the need to balance economic growth, social development and environmental considerations.

ExxonMobil Chemical


Must ReadView All

Apparel/Garments | On 26th Jun 2017

GSTN registration reopens

E-commerce operators and TDS (tax deducted at source) deductors can...

Textiles | On 26th Jun 2017

Expedite release of ROSL pending claims: TEA to Centre

The Tiruppur Exporters' Association (TEA) has again urged Union...

Textiles | On 26th Jun 2017

'Export promotion schemes to continue under GST regime'

The export promotion schemes will continue under GST regime, said...

Interviews View All

Luke Otten
Wigwam Mills Inc

Wigwam aims to recycle discarded yarn that doesn’t make it through the...

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Poojaa Kumar Deepak
Zeven

Zeven's performance sports apparel is designed for the Indian body type,...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
July 2017

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search