The new residual flash tower unit will enhance the facility’s ability to process overall crude distillation by replacing production of heavy fuel oil with lighter, higher-value gas oil.
ExxonMobil Refining and Supply Company president Jerry Wascom said: "This project, coupled with a recently announced major upgrade at our Antwerp facility, will further strengthen ExxonMobil’s integrated downstream portfolio in Europe to better compete in the challenging environment our industry currently faces."
In addition to investing in the Slagen refinery future despite low margins and industry-wide losses in Europe, ExxonMobil is assessing investments in other assets in its refining network.
ExxonMobil Refining and Supply Company regional director Stephen Hart said: "The new processing unit at Slagen refinery supports the company’s position as a leader in the global energy market by improving the production slate at the Slagen refinery.
"The new unit will enable improvement in the product yield in a highly energy-efficient manner that will help further strengthen the industry-leading position of our assets."
The Slagen refinery is considered as one of the world’s most energy-efficient refineries.
