Esso Norge AS, the affiliate business of ExxonMobil, has today announced new plans for the installation of an oil-processing unit at the Norwegian refinery in Slagen.
The new build will allow the company to produce vacuum gas oil at a high-quality grade. This feedstock offers high yields and is of higher value, thanks to its role in the production of diesel.
The new flash tower will be an upgrade to the existing unit and improve the distillation process of the crude product at the overall unit by providing higher-value and lighter gas in oil, in place of heavy fuel oil production.
ExxonMobil’s Refining and Supply Company President, Jerry Wascom, said that the new Slagen development would build upon the company’s strategic asset portfolio and strengthen their already leading industry position, allowing them to further deliver on their critical success factor of meeting the growing demand for energy.
ExxonMobil already has a strongly integrated European downstream portfolio, and this new development further strengthens the assets to deal more effectively with the challenges of the oil industry. The company has also recently spoken of its plans to invest in a major upgrade and investment at its facility in Antwerp.
The company is looking ahead in its investments when spending cash assets at the Slagen refinery in a climate of European losses across the industry and ongoing low margins. The commitment will be welcomed by ExxonMobil’s shareholders, employees and other stakeholders as providing evidence of a long-term and positive view. It is now working to evaluate its other assets within its global refining portfolio.
The Slagen refinery has been shown in global comparison studies to be one of the world’s most energy-efficient oil refineries. Since the 1990s, it has worked hard to implement a programme of energy-saving measures which have seen it achieve 25pc efficiency improvements since 1990.
The refinery was the first modern and large-scale oil refinery of its kind in Norway. It was opened by the Prime Minister at the time, Einar Gerhardsen, in 1961. It has a processing capacity of six million tons of crude on an annual basis, sourced primarily from the North Sea. Around 60pc of production heads to the export market, making it one of Norway’s largest exporting companies.
ExxonMobil Refining and Supply works with a series of affiliate businesses to operate a large network of manufacturing plants, distribution centres and logistics systems that deliver lubricants, fuels and other high-value feedstocks to customers worldwide.Last updated on 07:23PM - 09/09/14