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Exxon plans $650 million upgrade for UK refinery - FT

Exxon plans $650 million upgrade for UK refinery - FT
FILE PHOTO: The logo of Exxon Mobil Corporation is shown on a monitor above the floor of the New York Stock Exchange in New York, December 30, 2015. REUTERS/Lucas Jackson/File Photo   -   Copyright  Lucas Jackson(Reuters)
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(Reuters) – Exxon Mobil Corp <XOM.N> is planning to spend more than 500 million pounds 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 https://www.ft.com/content/abd28dec-b5c1-11e8-bbc3-ccd7de085ffe.

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; Editing by Shounak Dasgupta)

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