Market Overview

ExxonMobil to Proceed with New Crude Unit as Part of Beaumont Refinery Expansion

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  • Crude-processing capacity to increase by more than 65 percent
  • Expansion will enhance Beaumont refinery's position as a leader in the
    U.S.
  • Construction on track for production startup by 2022

ExxonMobil
said today that it has reached a final investment decision and started
construction on a new unit at its Beaumont, Texas refinery that will
increase crude refining capacity by more than 65 percent, or 250,000
barrels per day. The third crude unit within the facility's existing
footprint will expand light crude oil refining, supported by the increased
crude oil production in the Permian Basin
.

"With access to terminals, railways, pipelines and waterways nearby, the
Beaumont refinery is strategically positioned to benefit from Permian
production growth," said Bryan Milton, president of ExxonMobil Fuels and
Lubricants Company. "The addition of a third crude unit in Beaumont will
enhance the refinery's competitive position and truly establish it as a
leader in the U.S. refining industry."

Startup of the new unit is anticipated by 2022. The project is expected
to create up to 1,850 jobs during construction and between 40 and 60
permanent jobs once completed.

ExxonMobil previously announced plans to build and expand manufacturing
facilities in the U.S. Gulf region as part of its Growing
the Gulf initiative
. Growing the Gulf projects include expansion of
Beaumont's polyethylene capacity by 65 percent, a new unit in Beaumont
that increases production of ultra-low sulfur fuels, and a new
1.5 million ton-per-year ethane cracker at the company's integrated
Baytown chemical and refining complex in Texas
. ExxonMobil and SABIC
have also created a new joint venture to advance development of the Gulf
Coast Growth Ventures project, a 1.8
million metric ton ethane cracker currently planned for construction in
San Patricio County, Texas
.

ExxonMobil's integrated operations in Beaumont include a 366,000
barrel-per-day capacity refinery, as well as chemical, lubricants and
polyethylene plants. ExxonMobil has approximately 2,100 employees in the
Beaumont area and its operations account for approximately 1 in every 7
jobs in the region.

About ExxonMobil

ExxonMobil, the largest publicly traded international oil and gas
company, uses technology and innovation to help meet the world's growing
energy needs. ExxonMobil holds an industry-leading inventory of
resources, is one of the largest refiners and marketers of petroleum
products and its chemical company is one of the largest in the world.
For more information, visit www.exxonmobil.com
or follow us on Twitter www.twitter.com/exxonmobil.

Cautionary Statement: Statements of future
events or conditions in this release are forward-looking statements.
Actual future results, including project plans, costs, schedules,
capacities, and production rates could differ materially due to changes
in market conditions affecting the oil, gas and petrochemical industries
or long-term price levels for oil, gas, refined products and
petrochemicals; political and regulatory developments including changes
in environmental laws and regulations and obtaining necessary permits
and approvals; the ability to implement operating and management
improvements as planned including timely completion of construction
projects; the actions of competitors; the occurrence and duration of
economic recessions; the outcome of commercial negotiations; and other
factors discussed in this release and under the heading "Factors
Affecting Future Results" on the Investors page of ExxonMobil's website
at www.exxonmobil.com.
Forward-looking statements in this release are based on management's
information and belief at the time of the release and we assume no duty
to update these statements as of any future date. This release is not
intended to override the corporate separateness of various entities,
including affiliated companies.

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