ExxonMobil and Saudi Aramco have each developed technologies to convert crude oil to ethylene — processes that could save petrochemical plants $200 million per year, according to research firm IHS. Via FuelFix, ExxonMobil’s process skips the intermediate step of refining crude oil into naphtha, which is a prime feedstock for petrochemical plants around the world.
A similar technology being developed by Saudi Aramco is still in the conceptual phase, but it could provide similar cost savings, FuelFix notes.
ExxonMobil, meanwhile, is producing 1 million tons per year of ethylene at its Singapore Chemical Plant using its new technology.
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