Exxon Mobil Corporation is expanding its manufacturing capacity along the U.S. Gulf Coast through planned investments of USD 20B over a 10-year period to take advantage of the American energy revolution, Darren Woods, chairman and chief executive officer, said.
The projects, at 11 proposed and existing sites, are expected to generate thousands of new high-paying jobs and USD 20B in increased economic activity in Texas and Louisiana, Woods said, highlighting the company’s Growing the Gulf initiative in a keynote speech today at the CERAWeek 2017 conference.
ExxonMobil is strategically investing in new refining and chemical-manufacturing projects in the U.S. Gulf Coast region to expand its manufacturing and export capacity. The company’s Growing the Gulf expansion program, consists of 11 major chemical, refining, lubricant and liquefied natural gas projects at proposed new and existing facilities along the Texas and Louisiana coasts. Investments began in 2013 and are expected to continue through at least 2022.
Woods said that ExxonMobil’s Gulf expansion projects are expected to provide long-term economic benefits to the region, noting the creation of direct employment opportunities and the multiplier effects of the company’s investments.
