News Summary: Exxon Mobil mulls Baytown expansion

AP News
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Posted: Jun 01, 2012 4:00 PM
News Summary: Exxon Mobil mulls Baytown expansion

BIG GETS BIGGER: Exxon Mobil Corp. is considering a multi-billion-dollar expansion of its giant petrochemical complex east of Houston.

MORE JOBS: The company estimated the expansion at its Baytown complex about 30 miles east of Houston would provide about 10,000 construction jobs, then 350 permanent jobs once new facilities are up and running. Exxon anticipates a 2016 startup.

GASSING UP: Exxon, like other petrochemical firms that have announced expansions, wants to take advantage of a surplus of natural gas that's pushed prices near 10-year lows in the U.S.