Exxon presented its $20bln “Growing the Gulf” investment plan

Exxon's Baytown refinery in Texas is the largest in the US (courtesy of NASA/METI/AIST/Japan Space Systems - U.S./Japan ASTER Science Team)

A sat view of Exxon’s Baytown refinery in Texas is the largest in the US (courtesy of NASA/METI/AIST/Japan Space Systems and U.S./Japan ASTER Science Team)

Exxon Mobil is expanding its manufacturing capacity along the U.S. Gulf Coast through planned investments of $20 billion over a 10-year period to take advantage of the American energy revolution, Darren Woods, chairman and CEO, said according to a company press release.
The projects, at 11 proposed and existing sites, are expected to generate thousands of new high-paying jobs and $20 billion in increased economic activity in Texas and Louisiana, Woods said, highlighting the company’s Growing the Gulf initiative in a keynote speech today at the CERAWeek 2017 conference.
ExxonMobil is investing in new refining and chemical-manufacturing projects in the U.S. Gulf Coast region to expand its manufacturing and export capacity. The company’s Growing the Gulf expansion program, consists of 11 major chemical, refining, lubricant and liquefied natural gas projects at proposed new and existing facilities along the Texas and Louisiana coasts. Investments began in 2013 and are expected to continue through at least 2022.

Woods said that ExxonMobil’s Gulf expansion projects are expected to provide long-term economic benefits to the region, noting the creation of direct employment opportunities and the multiplier effects of the company’s investments.