ExxonMobil has become one of the largest and most influential energy companies in the world, with operations that span the length and breadth of the globe. A major sticking point for the international energy sector has been recycling. Recycling units offer energy project developers not only the ability to reduce emissions, but also provide much-needed feedstock for many other products like fuel and new plastic. Exxon recently commissioned a new recycling unit at the Baytown refinery.
ExxonMobil is set to make a major decision regarding Venezuela
In a meeting that saw the top leadership from the largest US-based energy companies, Donald Trump stated his expectation for the plethora of energy companies to commit $100 billion to revive Venezuela’s oil and gas sector, led by the US, of course.
Since the oil sector was nationalized under Hugo Chavez, the vast majority of US energy companies pulled out of the South American nation, leaving only Chevron behind. In that high-stakes meeting convened by the President, ExxonMobil’s CEO called Venezuela “uninvestable,” raising questions over the company’s commitments.
Despite the concerns, ExxonMobil has sent a team to assess the situation on the ground in Venezuela, but has stated significant political and legal reforms are needed to transform the nation’s oil market. Exxon has been working alongside Enterprise Products in the US to boost the Bahia NGL pipeline. One wonders if they can bring the same sense of cooperation to Venezuela.
ExxonMobil has now turned its attention to the Baytown refinery
According to a press release by Exxon, the Baytown refinery has now become “one of the largest advanced recycling operations in the world”. How they achieved this was by commissioning a third advanced recycling unit that will increase the refinery’s capacity to process plastic waste.
Advanced recycling units have become the latest must-have for refineries across the world to address the concerns of the international community over the effect the energy industry has on the environment.
“Our third advanced recycling unit at our complex in Baytown, Texas, is now operational, a milestone that demonstrates our focus on addressing plastic waste and fostering a more circular economy.” – ExxonMobil press release
Can ExxonMobil commission more advanced recycling units at the Baytown refinery?
Advanced recycling units provide the ability for refineries to process significantly higher volumes of plastic waste produced by operations. Exxon has now commissioned the third advanced recycling unit at the Baytown refinery and expects to add additional units in the near future.
Baytown can now process approximately ~250 million pounds of plastic waste annually, and ExxonMobil has noted that the company is on track to meet its goal of 450 million pounds of annual advanced recycling capacity at its international refineries by the end of this year.
One wonders if the new advanced recycling unit will affect ExxonMobil’s international portfolio, such as the upgraded refinery project in the Kingdom of Saudi Arabia, which is being developed by ExxonMobil, Saudi Aramco, and Samref.
“We have the technology and the expertise to expand advanced recycling. What’s essential now is supportive policy frameworks — clear, consistent laws and regulations that recognize advanced recycling as a proven solution for hard-to-recycle plastics. We’re seeking the opportunity to keep doing what works, not asking for subsidies. That’s why we’re in support of federal legislation that would officially recognize advanced recycling as recycling, establish clear standards for recycled content claims, and ensure alignment across federal agencies, providing clarity for both industry and consumers.” – ExxonMobil press release
ExxonMobil is building a market-leading international refinery portfolio
ExxonMobil has built up an impressive array of refineries across the international market over the years, and by integrating an advanced recycling unit at the Baytown refinery, has created a new market trend that will certainly appease the myriad of concerned environmentalists. With market insiders stating that Exxon is preparing to handle Venezuelan crude at its Baton Rouge refinery, Exxon has created a new era of worldwide domination.
