EMEA News
ExxonMobil Plans Refinery Upgrade in Norway
ExxonMobil will upgrade its Slagen refinery in Norway to produce vacuum gas oil rather than heavy fuel oil (HFO), Reuters reports.
"The new unit will enable improvement in the product yield in a highly energy-efficient manner that will help further strengthen the industry-leading position of our assets," said Stephen Hart, regional director of ExxonMobil Refining and Supply.
The upgrade, including the addition of a residual flash tower, will take 12 months.
The company did not divulge the price of the project but said it would involve an extra 50 or 60 workers beyond the normal headcount of 375 employees at the plant.
ExxonMobil announced in July that it would spend $1 billion to upgrade its refinery in Antwerp, Belgium to convert high-sulfur residuals into marine gas oil, diesel fuel, and other higher-value products.
The company's willingness to invest in the upgrades comes in contrast to some other European refinery players who are closing facilities or cutting production.
