Boston, MA 06/13/2014 (wallstreetpr) – Chevron Phillips Chemical Company LP (Chevron Phillips Chemical), which is half owned by the subsidiary of Chevron Corporation (NYSE:CVX), on June 12, 2014 announced that it had successfully commissioned and initiated largest on-purpose 1-hexene plant of the world.
Key features of largest on-purpose 1-hexene plant
The largest on-purpose 1-hexene plant has the capability to cater to the world and is also capable of producing 250000 metric tons (551,000,000 lbs.) on an annual basis. This plant is said to enjoy the advantages of feedstock availability, operational knowledge as well as infrastructure by being placed in Cedar Bayou Chemical Complex in Baytown, Texas.
This is the third plant which makes use of proprietary selective on-purpose 1-hexene technology of Chevron Corporation (NYSE:CVX). The selective on-purpose 1-hexene technology can produce comonomer grade 1-hexene from ethylene. This is the proven technology, which is successfully in use at present at the Qatar Chemical Company Ltd.’s facility in Mesaieed, Qatar.
Statement from the General Manager of Normal Alpha Olefins and Polyalphaolefins for Chevron Phillips Chemical
The General Manager of Normal Alpha Olefins and Polyalphaolefins for Chevron Phillips Chemical Company LP (Chevron Phillips Chemical), Mitch Eichelberger said that Chevron Phillips, which is equally owned company of Chevron U.S.A. Inc. (an indirect completely-owned subsidiary of Chevron Corporation (NYSE:CVX) as well as wholly-owned subsidiaries of Phillips 66; is committed towards being a reliable and consistent supplier to the customers. He added that initiation of this plant will allow the customers to think about their business expansion and meet the growing 1-hexene comonomers worldwide demand.
Expansion of 1-hexene production seen in line with Texas’ growth as global petrochemical industry hub
Pete Cella, CEO of Chevron Phillips Chemical explained that the investment of Chevron Phillips Chemical towards expansion of 1-hexene production should be seen in line with the growth of Texas region as the primary global focal point for the petrochemical industry as well as increased supply of competitive feedstocks in this country from shale resources development.