bp announced plans for a $269 million investment in three projects at its Cherry Point Refinery in Washington state.
Specifically, the projects aim at improving the refinery’s efficiency, reducing its carbon dioxide (CO2) emissions and increasing its renewable diesel production capability.
These initiatives are expected to create more than 300 local jobs over the next three years. This includes more than 200 construction jobs, 25 engineering jobs and approximately 40 support roles. bp currently supports more than 36,600 jobs in Washington.
bp’s new investment in Cherry Point builds on a half century of innovation in Washington state. It will position us to provide lower carbon energy while creating jobs and reducing emissions in our operations.
…David Lawler, chairman and president, bp America said.
The investment is aligned with bp’s aims to be net zero across its operations by 2050 or sooner and to reduce the carbon intensity of the products it sells by 50% by 2050 or sooner.
The three projects are:
- Hydrocracker Improvement Project
The $169 million Hydrocracker Improvement Project (HIP) will improve efficiency and reduce periods of planned maintenance, resulting in fewer unit shutdowns and associated flaring events.
- Cooling Water Infrastructure Project
The $55 million Cooling Water Infrastructure Project (CWI) will enhance cooling water infrastructure, allowing for increased utilization, better energy efficiency, and a related reduction in CO2 emissions.
- Renewable Diesel Optimization
The Renewable Diesel Optimization (RDO) project is a $45 million dollar investment that will more than double the refinery’s renewable diesel production capability to an estimated 2.6 million barrels a year.
In summary, the projects are expected:
- to reduce refinery’s operational carbon dioxide emissions by approximately 160,000 tons pern year, or 7%.
- to double capability to produce renewable diesel
- to create more than 300 jobs over the next three years
