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Exxon Confirms Gulf Coast Refining Expansion

“A top Exxon Mobil Corp official confirmed a multi-billion dollar plan under consideration to double U.S. light crude oil refining capacity along the U.S. Gulf Coast to take advantage of the nation's growing shale oil production,” Reuters  reports.

“Exxon's proposed project, which has not received a final investment decision, would be the first major expansion of gasoline and motor fuels production in the nation in six years.” The company “plans to invest $9 billion in six refinery projects globally in the next eight years and forecasts returns from its downstream to grow by 20% on average.” 

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