CLAIM #64211 · Exxon Mobil Corp (XOM) · 2024Q4 earnings call · Jan 31, 2025 · due Dec 31, 2025
“We've got two advanced recycling units that we are building at Baytown. So despite the Attorney General's accusations that these are myths, we've actually got two more units starting up, one in the second quarter and one in the fourth quarter”
Darren Woods · CEO
In context
“you expect to get to that full over $3 billion run rate. Thanks. Darren Woods: Yes, sure. Devin, thanks for the question. I think you're right. It's going to be a busy year with a lot of startups. I'll maybe just kind of walk through the key projects that we've been talking with you all about and start with the China Chemical Complex. We mechanically completed that at the end of last year. We've been going through startup sequencing and making sure that each piece of that kit is working as designed, and we'll bring all that integrated together. And my expectation is, we'll get it started up here sometime in the first quarter, back into the first quarter. In Fawley, we're building a conversion facility to produce low-sulfur diesel. My expectation is we'll have that in early second quarter. We've got two advanced recycling units that we are building at Baytown. So despite the Attorney General's accusations that these are myths, we've actually got two more units starting up, one in the second quarter and one in the fourth quarter, which continues to see a lot of interest by consumers for recycled product. And so that capacity is desperately needed to meet that customer demand. We've got all the modules that we need for the Strathcona Renewable Diesel, looking to basically try to get that started up here in the second quarter, expect that to happen. The other real big project that we've got is the Singapore Resid Upgrade Project. That is new-to-the-world technology. I feel really good about the progress we've made there. We've got all the vessels loaded with catalyst. Some of that catalyst is proprietary. It's the largest catalyst load we've ever done, and we did that successfully and expect to be mechanically complete sometime here in the first quarter and get into the start-up and sequencing and expect to be up a”
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SEC filings for XOM ↗ · Claim quote is verbatim from the 2024Q4 earnings call.