Exxon refinery upgrade major expansion will need more oil!Additional positive data points good for Oil and BTE
Major investment in refinery upgrades and additional capabilities. Great long-term for oil.
ExxonMobil officials have pulled the trigger on an estimated $410 million modernization project that will make its Baton Rouge Refinery more competitive and position it for a potential major expansion in the future.
The project would enable the processing of additional types of crude oil, while reducing environmental emissions at the site first built in 1909. Construction is expected to begin later this year.
https://www.theadvocate.com/baton_rouge/news/business/article_8b382038-c92d-11eb-b479-938e3ae8bdd6.html