Article: ExxonMobil, Pdvsa confirm plan for Venezuela cracker.(top of the week)(Exxon Mobil Corp., Petroleos de Venezuela S.A.)

ExxonMobil has confirmed plans to build a 1-million m.t./year, ethane-based ethylene and derivatives complex on Venezuela's eastern coast for an estimated capital cost of $3 billion. The project will be a 50-50 joint venture with state oil company Petroleos de Venezuela (Pdvsa; Caracas) and will be built at Jose, Anzoategui state. Feasibility studies begin next month, and analysts expect the project to come onstream no earlier than 2010. The complex will include 500,000 m.t./year of polyethylene (PE) capacity. A linear low-/high-density PE swing unit and a high pressure low-density PE unit have previously been considered for the site. An ethylene oxide unit has aim been ...

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