ExxonMobil has acquired a 49.9 % stake in Biojet with an aim to provide lower-emissions products for the transportation sector. Biojet will convert forestry and wood-based construction waste into lower-emissions biofuels and biofuel components as well as supply 3 million barrels per year to ExxonMobil.
With an aim to meet the growing demand of performance chemical products in China, Exxon Mobil has decided to go ahead and build a multi-billion-dollar chemical complex in the Dayawan Petrochemical Industrial Park in Huizhou, Guangdong Province in China. The complex which is expected to produce performance polymers includes a flexible feed steam cracker, three performance polyethylene lines, and two differentiated performance polypropylene lines.
With an aim to reduce greenhouse gas emissions from its facilities and prepare for a lower-carbon future, ExxonMobil will be investing the hefty amount over the next six years in its sustainable and green initiatives. The company will also work towards developing technologies which can be used in carbon capture and storage, hydrogen and biofuels production.
Exxon Mobil and Pertamina have entered into a MOU under which both the companies will examine the potential for large-scale deployment of low-carbon technologies such as carbon capture, utilization and storage, and low-carbon hydrogen in Indonesia.
Exxon Mobil has plans to establish the mega facility in Baytown, Texas, USA and will commence operations by 2022. With its proprietary advanced recycling technology, the company plans to scale up operations at the unit in order to supply certified circular polymers by the end of the year.
Under a MOU, Exxon Mobil will be participating in the Acorn carbon capture and storage project (CCS) in Scotland which aims to capture and store 5-6 million tons of CO2 per year by 2030 from gas terminals. The oil and gas company has also joined the Neccus Carbon Capture Alliance which aims at reducing carbon emissions from industrial facilities in Scotland.
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Chemical recycling company Plastic Energy is collaborating with Exxon Mobil on an advanced recycling project in France that will convert post-consumer plastic waste into raw materials for the manufacturing of virgin-quality polymers.