Oil giant ExxonMobil will fork out U.S.$200 million on expanding recycling operations at its Beaumont and Baytown refineries in Texas.
The company recently announced its oil and gas production rates were the highest the’ve been in 40 years and the trajectory of fossil fuels consumption would continue upward for some years to come. It aslo announced it would partner with a rerefiner in France to collect waste oil.
The recycling process converts plastics into feedstock for fuels, lubricants and chemicals. The facilities will start up in 2026 and should contribute to recycling capacity of 227 million kilograms.
The company aims for global recycling capacity of 453 million kg by 2027.
The Baytown site has processed almost 32 million kgs of plastic waste since it was first operational in 2022.