Petochemical Complex News Today

ExxonMobil on Thursday announced that a $230.5 million, three-year modernization initiative at its Baton Rouge refinery has been completed.

Since Regina Davis was named refinery manager of the ExxonMobil Product Solutions Complex at the start of September, her priority has been to “unlock innovation” within both the facility’s workforce and technology. 

The East Baton Rouge Metro Council later this month will consider granting a property tax exemption to ExxonMobil estimated to be worth about $8.6 million over 10 years. 

ExxonMobil has agreed to capture and permanently store up to 2 million metric tons of CO2 emissions annually from CF Industries

Leaders of ExxonMobil’s facilities in Baton Rouge, like their colleagues worldwide, are working on road maps to reduce greenhouse gas emissions by the end of the year. 

ExxonMobil executives believe global oil markets could remain tight for another three to five years, largely because of a lack of investment since the pandemic began, Bloomberg reports.

Louisiana’s chemical manufacturing sector could be “poised for a booming year,” says Rhoman Hardy, senior vice president, U.S. Gulf Coast, Shell Chemicals and Products. 

Energy shocks related to the Ukraine crisis could have an upside for Louisiana's petrochemical industry.

ExxonMobil is looking to further reduce its debt, evaluating sustainability-linked financing instruments and preparing for potential new climate-related disclosure requirements, finance chief Kathryn Mikells says. 

Congress is considering reviving taxes on the chemical and petroleum industries to pay for cleanup of polluted sites.