Tuesday, September 18, 2018

Exxon Plans $650 mln Upgrade for UK Refinery

Posted by September 11, 2018

Photo: Exxon

Exxon Mobil Corp is planning to spend more than 500 million pounds ($650.00 million) to upgrade the UK's largest oil refinery, the Financial Times reported on Tuesday.

The project, to be in Fawley, will be Exxon's biggest investment in UK in almost 30 years, according to the report

FT said that while the plan was still awaiting final approval from local authorities and the company's board, work had already started on clearing the site for the proposed upgrade.

Exxon did not immediately respond to a Reuters request for comment.

Reporting by Debroop Roy in Bengaluru

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