Major Investment Programs in Recent Years
In this region, with its mature markets and declining demand, we are scaling back capacity and focusing investments on large integrated refining and petrochemical complexes to:
- Capture maximum synergies between the two activities.
- Position our most efficient sites as industry leaders.
Antwerp in Belgium is our biggest integrated complex in Europe. We are investing €1 billion between 2013 and 2017 to upgrade it.
We are investing €160 million through end-2016 to turn Carling in France into our European center for hydrocarbon resins and a leading polymer facility.
We invested €1 billion in the Normandy, France complex between 2009 and 2014 to produce more diesel and upgrade the petrochemical plant.
We are ensuring the sustainability of the Lindsey Oil Refinery in the United Kingdom by reducing refining capacity and upgrading conversion capacity. We are investing $50 million initially, rising to a total of $220 million over the next five years.
Asia and the Middle East
We are investing in this region to:
- Move closer to customers and capitalize on growth in emerging markets.
- Secure access to cost-advantaged feedstock in producing countries.
With Saudi Aramco, we spent $10 billion to build one of the world’s most efficient refineries in Saudi Arabia. SATORP, which can process 400,000 barrels per day, has been fully up and running since August 2014.
Some $2 billion has been invested in partnership with Samsung to upgrade the Daesan petrochemical complex in South Korea and double its production capacity to serve the fast-growing Asian market.
We are consolidating our production base and leveraging opportunities created by the development of unconventional oil and gas in the country.
At Port Arthur in Texas, we upgraded the steam cracker to produce 85% of its ethylene from gas (ethane, propane and butane), to benefit from the shale gas revolution.