EMEA News
ExxonMobil Breaks Ground on New Hydrocracker
The Port of Rotterdam Authority says that last Wednesday ground was broken for ExxonMobil's new Hydrocracker, which among other uses will be used to increase output of low-sulfur bunker fuels.
"It underscores ExxonMobil's confidence in our port and industrial complex. It also sends out a positive signal that investment in the refinery and petrochemical sectors in the port of Rotterdam is competitive," said Allard Castelein, CEO of the Port of Rotterdam Authority.
At a cost of over $1 billion, the Hydrocracker will help shift fuel oil output to instead producing low-sulphur fuels such as diesel and kerosene, and base oils from semi-finished products with high sulphur content.
In addition to the construction of the new Hydrocracker and modification of the existing unit, there is also further investment in expansion with six new tanks, raising the storage capacity by 140,000 m3 by 2018.
Energy efficiency will also be increased by a further five percent.
After ExxonMobil announced the new Hydrocracker back in 2014, analysts pointed to the move as evidence that the EU fuel oil market is "in decline".
