U.S. oil major ExxonMobil has started the construction of a new diesel production unit at its 260,000 b/d Fawley refinery in the U.K.

The group said that the project represents an investment of more than £800 million ($1.01 billion) and is now in the main construction phase.

An Exxon spokesperson told OPIS that the capacity of the new diesel unit will be 38,000 barrels/day when complete. First production is expected for next year, with full capacity ramp-up scheduled for 2025.

"This is a major investment by ExxonMobil that will see domestically produced fuel reduce Britain's reliance on imports and the emissions associated with its transport from around the world," Fawley site manager Nick Bone said.

The announcement comes days after peer Petroineos announced plans for the transformation of the 150,000 b/d refinery in Scotland into an import facility.

This content was created by Oil Price Information Service, which is operated by Dow Jones & Co. OPIS is run independently from Dow Jones Newswires and The Wall Street Journal.

--Reporting by Jaime Llinares Taboada, jllinares@opisnet.com; Editing by Rob Sheridan, rsheridan@opisnet.com

(END) Dow Jones Newswires

November 29, 2023 12:11 ET (17:11 GMT)

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