PASCAGOULA, Miss., Nov. 13 /PRNewswire-FirstCall/ -- Chevron U.S.A.
Inc. today announced it has submitted an environmental permit application
to the Mississippi Department of Environmental Quality for the construction
of a major gasoline production unit, along with other minor units, at its
refinery in Pascagoula, Miss., that could potentially further increase
gasoline production at the refinery by roughly 15 percent.
According to refinery General Manager Roland Kell, the new Continuous
Catalyst Regeneration (CCR) unit would update important refinery technology
by replacing two process units constructed more than 30 years ago. "The CCR
project would increase the Pascagoula Refinery's ability to provide
reliable supplies of gasoline to key markets in the eastern United States,"
Kell said.
Chevron has contracted WorleyParsons to complete engineering for the
CCR project, Kell said, and if approved, project construction would likely
begin sometime during the first quarter of 2008.
Chevron's environmental permit application also includes several
smaller projects that would optimize the refinery by increasing equipment
reliability and availability. Together with the CCR, these projects could
increase the refinery's gasoline production by approximately 750,000
gallons per day. Neither the CCR project nor the smaller projects would
increase the refinery's crude oil capacity.
Environmental permitting will run concurrently with Chevron's
evaluation process to ensure all information is in place when Chevron
decides whether or not to move forward with the CCR and the other projects.
"We plan to utilize appropriate air emission controls, installing Best
Available Control Technology as required by the environmental authorities,"
Kell said. "We are also proposing to voluntarily reduce certain emissions
over and above current requirements."
Meetings to discuss these plans are currently being organized with
community groups. "As always, Chevron will continue its open dialogue with
the community, understanding that these communications are an important
part of the decision-making process," Kell said.
In the meantime, Chevron is executing other projects to increase
gasoline supplies to U.S. consumers. An upgrade to the Pascagoula
Refinery's Fluid Catalytic Cracking unit remains on track to be completed
by the end of 2006 and will increase the refinery's gasoline production by
roughly 10 percent to about 5.5 million gallons a day. This project, along
with one completed earlier this year at the company's refinery in El
Segundo, Calif., will collectively bring online for Chevron about 1 million
gallons per day of additional gasoline manufacturing capacity -- a 7
percent increase relative to the company's total U.S. refinery gasoline
production in 2005.
Chevron is continuing to evaluate other potential opportunities to
enhance further the competitive position of the Pascagoula Refinery.
Chevron can process more than 2 million barrels per day of crude oil
through its share of 19 wholly owned or joint-venture fuel refineries and
one asphalt plant, and markets motor fuels through its more than 25,000
retail outlets worldwide under the Chevron(R), Texaco(R) or Caltex(TM)
brands. The Pascagoula Refinery is Chevron's largest wholly owned petroleum
refinery, processing an average of 330,000 barrels of crude oil per day and
producing a variety of transportation fuels and other refined products.
Chevron U.S.A. Inc. is a wholly owned subsidiary of Chevron Corp.
(NYSE: CVX), one of the world's leading energy companies. With more than
55,000 employees, Chevron conducts business in approximately 180 countries
around the world, producing and transporting crude oil and natural gas, and
marketing and distributing fuels and other energy products. Chevron is
based in San Ramon, Calif. More information on Chevron is available at
http://www.chevron.com.
CAUTIONARY STATEMENT RELEVANT TO FORWARD-LOOKING INFORMATION FOR THE
PURPOSE OF "SAFE HARBOR" PROVISIONS OF THE PRIVATE SECURITIES LITIGATION
REFORM ACT OF 1995. This news release contains forward-looking statements
about Chevron's plans at the Pascagoula Refinery in Mississippi. The
statements are based on management's current expectations, estimates and
projections; are not guarantees of future performance; and are subject to
certain risks, uncertainties and other factors, some of which are beyond
the company's control and are difficult to predict. Among the factors that
could cause actual results to differ materially are timing of the
construction and commencement of the operation of the planned facilities;
future supply and demand for refined products; the competitiveness of
alternate product substitutes; and local and general economic conditions.
You should not place undue reliance on these forward-looking statements,
which speak only as of the date of this press release. Unless legally
required, Chevron undertakes no obligation to update publicly any
forward-looking statements, whether as a result of new information, future
events or otherwise.
SOURCE Chevron Corp.
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Related links:
http://www.chevron.com
CONTACT:
Steve Renfroe, Mississippi, +1-228-938-4548,
or Stephanie Price, San Ramon +1-925-842-2583, both for Chevron
Corp.
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