Exxon weighs expansion of Beaumont refinery

[coachacola]

From Reuters.com:

 

Exxon Mobil Corp is weighing a possible multibillion-dollar expansion of its 344,600 barrel-per-day (bpd) Beaumont, Texas, refinery that could make it the nation’s largest by 2020, according to sources familiar with the company’s deliberations.

 

http://www.reuters.com/article/2014/07/25/us-refinery-operations-exxon-mobil-beaum-idUSKBN0FU12O20140725?feedType=RSS

[KABrother88]

Man that would be nice...especially for me and my line of work (if my company could get in on the contract at least). Interested if the timing of the report has anything to do with the mess at BISD starting to be cleaned up...

[Mike]

Coming from a guy that works for and was part of the construction of the new refinery at Motiva Port Arthur, I think it would very interesting to see Exxon go this route. When it settles out I see them expanding but probably closer to the 500 BBD number than the 800. Either way it would be great for the area so I hope they do something.

[LUSportsFan]

Love to hear that kind of news! Expansion and new business is always good to hear.

 

Even so, I think the area needs to diversify its industries a little more, but diversification as an addition to the current business environment; not a replacement. For example, my daughter has been in Fort Collins, CO for most of the last 10 years (spent two years in England). It is amazing to see the changes there every time we come up to visit. The population there has gone from around 118,000 in 2000 to a current estimate of over 155,000.

 

Programs like the one linked below have helped. There were several very large high-tech plants either under new construction with new companies coming in or large additions.

 

http://archive.coloradoan.com/article/20130627/NEWS01/306270041/Economic-incentives-Sound-investment-waste-money-

 

Not saying the Triangle needs to settle on high-tech, but having other industry in the area's portfolio would help mitigate some of the busts that have historically been associated with the energy industry (and I am a retiree from a 32 career in oil & gas).

Edited July 26, 2014 by LUSportsFan