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Oil & Gas

Chevron Building $1.4 Billion Mississippi Facility

February 01, 2011
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Chevron Corp. will build a $1.4 billion facility in Mississippi to make the main ingredient for motor oil and other lubricants, reports Bloomberg. The new facility will be located at Chevron''s oil refinery outside Pascagoula. It will produce 25,000 barrels per day of premium base oil, which can be made into many lubricants. Chevron has only two such facilities worldwide - one located at the company''s Richmond refinery, the other run by a joint venture in Korea. But demand for the product is growing both in the United States and abroad, according to the company. The new facility will have easy access to some of those burgeoning markets. Once it opens in late 2013, the facility will roughly double Chevron''s worldwide production of premium base oil. Construction will generate about 1,000 jobs during the next two years, while operation of the plant will create 20 permanent jobs.

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