ExxonMobil to boost mainland sales
US oil major ExxonMobil is increasing both onshore and offshore oil products supply to China, as the market is becoming more critically important to its future strategy, said a senior company executive.
The company's onshore product supply to China will be greatly enhanced by the Fujian integrated refining and petrochemical complex, which went into full operation on Wednesday. "It is our one major move in the Chinese market," Sherman Glass, president of ExxonMobil Refining & Supply Company told China Daily in an exclusive interview.
The around 40-billion-yuan Fujian project, in which ExxonMobil has a 25-percent stake, will triple Fujian's annual oil refining capacity to 12 million tons from 4 million tons. It can produce 7.5 million tons of refined oil a year.
