Port of Rotterdam Authority has announced that at ExxonMobil,construction has started for the new Hydrocracker,an investment of more than one billion dollars.
“A wonderful moment,” according to Allard Castelein, CEO of the Port of Rotterdam Authority. “It underscores ExxonMobil’s confidence in our port and industrial complex. It also sends out a positive signal that investment in the refinery and petrochemical sectors in the port of Rotterdam is competitive.”
Innovative and sustainable
Based on ExxonMobil’s innovative hydrocracking technology, the Hydrocracker produces ultra-low-sulphur fuels such as diesel and kerosene, and base oils from semi-finished products with high sulphur content. ExxonMobil thus responds to the growing market demand for these products. In addition to the construction of the new Hydrocracker and modification of the existing unit, there is also further investment in expansion with six new tanks, raising the storage capacity by 140,000 m3. The extensions are expected to be operational in 2018.
The ExxonMobil refinery in Rotterdam is already one of the most energy-efficient refineries in Europe. The new investment will increase its energy efficiency by a further five percent.
Energy transition
The energy sector is in a transitional phase. Society will eventually switch to renewable energy, but fossil fuels will remain important in the next few decades. The International Energy Agency predicts, for instance, that the world will still depend on fossil fuels such as oil and coal for three quarters of its energy needs in 25 years. That is why it is important for the Dutch economy and the port to continue to support the activities of companies like ExxonMobil. At the same time, the generation of renewable energy and the development of biobased industries are also encouraged. The Port Authority does its utmost to invest as much as possible in these areas.
Source & Image credit: Port of Rotterdam
