News releases Nov. 8, 2021
ExxonMobil to invest in petrochemical complex in China
News releases Nov. 8, 2021
- Facility in Guangdong Province will manufacture performance chemical products for packaging, hygiene, automotive, and agricultural industries
- Project will help meet demand growth in China
- Investment is part of ExxonMobil’s plans to increase global manufacturing capacity
The chemical complex will produce performance polymers used in packaging, automotive, agricultural, and consumer products for hygiene and personal care. As part of ExxonMobil’s ongoing commitment to advancing climate solutions, the site will feature industry-leading technologies to improve energy efficiency.
“Demand for performance polymers will continue to increase in China, and we’re well positioned to meet the needs of that growing market,” said Karen McKee, president of ExxonMobil Chemical Company. “We look forward to progressing this exciting project as we work to build a competitive growth platform in Dayawan.”
The facility supports progress toward China’s national petrochemical development priorities, which include self-sufficiency, diversified feedstock sources and advancing new competitive technology.
Construction is underway on the greenfield project, which includes a flexible feed steam cracker, three performance polyethylene lines, and two differentiated performance polypropylene lines. The steam cracker will have a nameplate capacity of approximately 1.6 million metric tons per year.
ExxonMobil is prioritizing near-term capital investments on advantaged assets with the highest potential value and ability to generate attractive shareholder returns. These include chemicals projects to grow high-value performance products by 60% by 2027. Besides the chemical complex in China, ExxonMobil and SABIC’s joint venture in San Patricio County, TX, Gulf Coast Growth Ventures, is in the process of starting up.
ExxonMobil has operated in China for more than a century. The company’s current business interests include a presence in downstream, chemicals and liquefied natural gas. ExxonMobil is committed to being a good corporate citizen and supports community relations programs wherever it operates.
ExxonMobil, one of the largest publicly traded international energy companies, uses technology and innovation to help meet the world’s growing energy needs. ExxonMobil holds an industry-leading inventory of resources, is one of the largest refiners and marketers of petroleum products, and its chemical company is one of the largest in the world. To learn more, visit exxonmobil.com and the Energy Factor. Follow us on Twitter and LinkedIn.
Cautionary Statement: Statements of future events, including investment opportunities, market transitions, and product growth potential, in this release are forward-looking statements. Actual future results, including project plans, timing, capacities, and costs could vary depending on the ability to execute operational objectives on a timely and successful basis; changes in government policy or objectives; the outcome of future research and technology development programs, including the future success of collaborative efforts; changes in laws and regulations including environmental laws and taxes; unforeseen technical or operational difficulties; changes in supply and demand and other market factors affecting future prices of oil, gas, and petrochemical products; and other factors discussed in this release and under the heading “Factors Affecting Future Results” on the Investors page of ExxonMobil’s website at exxonmobil.com.
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