Posted : Fri, 21 Sep 2007 06:01:39 GMT
Author : Shell Oil Company
Category : PressRelease
HOUSTON, Sept. 21 /PRNewswire/ — Shell Oil Company announced today the final investment decision to begin construction on a 325,000 barrel-per-day (b/d) capacity expansion project at its joint venture Motiva’s refinery in Port Arthur, Texas. The expansion project will increase the refinery’s crude oil throughput capacity to 600,000 b/d, making it the largest refinery in the U.S. and one of the largest in the world.
“Shell is committed to meeting the global energy challenge by ensuring our global Downstream business maintains a world-class manufacturing capability,” said Rob Routs, Executive Director Downstream Royal Dutch Shell plc. “Shell’s investment in the Motiva Port Arthur Refinery expansion will lead to increased supplies of gasoline, diesel and aviation fuels in the U.S.”
The 325,000 b/d expansion at Port Arthur is equivalent to building the first new refinery in the U.S. in more than 30 years. The new production capacity will increase Motiva’s supply of Shell-branded fuels to the company’s wholesale and direct supply markets.
Motiva’s expansion will lower most types of emissions from refinery operations on a per barrel basis by utilizing advanced technology in all new system installations and replacing existing systems. The expansion of the refinery will decrease emissions from present day levels for ozone precursors, specifically nitrogen oxides and volatile organic compounds.
Shell is re-investing a significant part of its profits to meet both short and long-term needs. This includes new technology, new production and environmental and product quality improvements.
Shell Oil Company, including its consolidated companies and its share in equity companies, is one of America’s leading oil and natural gas producers, natural gas marketers, gasoline marketers and petrochemical manufacturers. Shell, a leading oil and gas producer in the deepwater Gulf of Mexico, is a recognized pioneer in oil and gas exploration and production technology. Shell Oil Company is an affiliate of the Shell Group, a global group of energy and petrochemical companies, employing approximately 112,000 people and operating in more than 130 countries and territories.
Disclaimer statement:
This document contains forward-looking statements concerning the financial condition, results of operations and businesses of Royal Dutch Shell. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Forward-looking statements are statements of future expectations that are based on management’s current expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in these statements. Forward-looking statements include, among other things, statements concerning the potential exposure of Royal Dutch Shell to market risks and statements expressing management’s expectations, beliefs, estimates, forecasts, projections and assumptions. These forward-looking statements are identified by their use of terms and phrases such as “anticipate”, “believe”, “could”, “estimate”, “expect”, “intend”, “may”, “plan”, “objectives”, “outlook”, “probably”, “project”, “will”, “seek”, “target”, “risks”, “goals”, “should” and similar terms and phrases. There are a number of factors that could affect the future operations of Royal Dutch Shell and could cause those results to differ materially from those expressed in the forward-looking statements included in this Report, including (without limitation): (a) price fluctuations in crude oil and natural gas; (b) changes in demand for the Group’s products; (c) currency fluctuations; (d) drilling and production results; (e) reserve estimates; (f) loss of market and industry competition; (g) environmental and physical risks; (h) risks associated with the identification of suitable potential acquisition properties and targets, and successful negotiation and completion of such transactions; (i) the risk of doing business in developing countries and countries subject to international sanctions; (j) legislative, fiscal and regulatory developments including potential litigation and regulatory effects arising from recategorisation of reserves; (k) economic and financial market conditions in various countries and regions; (l) political risks, project delay or advancement, approvals and cost estimates; and (m) changes in trading conditions. All forward-looking statements contained in this document are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. Readers should not place undue reliance on forward-looking statements. Each forward-looking statement speaks only as of the date of this document. Neither Royal Dutch Shell nor any of its subsidiaries undertake any obligation to publicly update or revise any forward-looking statement as a result of new information, future events or other information. In light of these risks, results could differ materially from those stated, implied or inferred from the forward-looking statements contained in this document.
The United States Securities and Exchange Commission (SEC) permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We use certain terms in this document, such as “oil in place” that the SEC’s guidelines strictly prohibit us from including in filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 20-F, File No 1-32575 and disclosure in our Forms 6-K file No, 1-32575, available on the SEC website http://www.sec.gov/. You can also obtain these forms from the SEC by calling 1-800-SEC-0330.
Shell Oil Company
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