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Exxon’s New US$10bn Plant

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    Last Saturday in Riyadh, Exxon and SABIC, the Saudi chemicals giant, signed an agreement to proceed with engineering and design work for a $US10bn petrochemical plant at a site near Corpus Christi, Texas; a deal first announced by SABIC and Exxon in April.

    From the Wall St Journal and the Australian:

    For Exxon, the investment is part of its “Growing the Gulf” plan to spend $US20bn in the next 10 on the US Gulf Coast.

    When Exxon in March announced the initiative — which included previously announced projects — President Trump tweeted his congratulations to the company.

    http://www.theaustralian.com.au/bus...n/news-story/5b617946c350070bc43113981a0b7f5d

    When announcing the user-based enterprise agreement with Exxon last year, the Aconex CEO was enthusiastic:

    “We are pleased with this opportunity to partner with ExxonMobil at the enterprise level and serve their global project network,” Mr Jasper said.

    “We have helped them deliver large, complex projects in multiple regions over the years, and now we look forward to supporting standardisation and process optimisation across their engineering and construction portfolio.

    “This is a strategic win with significant implications for us in the oil and gas industry.”

    http://www.theaustralian.com.au/bus...l/news-story/c94facf9a6def2dab20bcc8685f3083e


    ExxonMobil Corp.: World's largest ethylene cracker plant will be in South Texas

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    This post is based on my own research and is not investment advice. When making investment decisions, always DYOR.
    Last edited by jhunt: 23/05/17
 
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