ExxonMobil expands low-cost site revamps as refining profits surge

ExxonMobil explores more refinery upgrades as it hones in on higher-value products

After starting up operations at four new refining and chemicals initiatives this year, ExxonMobil is surveying more opportunities to revamp other sites.

ExxonMobil expands low-cost site revamps as refining profits surge

ExxonMobil says its shift toward upgrading existing refineries is becoming a core long-term strategy, as the oil major moves to better weather volatile commodity cycles and keep investment costs lower, Reuters writes.  Along with upgrading refineries, the company is looking to convert  low-value feedstocks into higher-margin products. After bringing four new refining and chemical projects online this year—including new Singapore units converting…