MELBOURNE – ExxonMobil Australia subsidiary Mobil Refining Australia (Mobil) today announced plans to expand crude storage capacity at its Altona Refinery in order to improve the efficiency of its local refining and supply operations and to help meet Australia’s growing demand for transportation fuels.
Mobil will construct the new tank in an existing crude oil storage area at the refinery site. Construction will begin in mid-2018 and is expected to be completed in 2020.
Riccardo Cavallo, Mobil’s Manager of Refining for Australia and New Zealand, said construction of the new crude tank is yet another major investment in the Altona Refinery that complements other recent investments to improve ExxonMobil’s competitive position in Australia.
“During the past five years, ExxonMobil has invested more than $400 million at the Altona Refinery and Yarraville Terminal. Recent investments include construction of a 3 km pipeline connecting Yarraville Terminal to the Somerton jet fuel pipeline, construction of two new fuel storage tanks at Yarraville Terminal and work to increase Altona Refinery’s production.
“The additional crude oil storage will help optimise ExxonMobil Australia’s integrated oil and gas business to support continued supply of high-quality, locally produced fuel products to Victorian businesses and households,” said Cavallo.
A recent study found that the Altona refinery’s operation increases Victoria’s economic output by $270 million a year.
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