The new tank will improve the efficiency of Mobil Refining Australia’s, a subsidiary of ExxonMobil Australia, local refining and supply operations.
The new tank will be built in an existing crude oil storage area at the refinery site and construction will start in mid-2018 and is expected to be completed in 2020.
Riccardo Cavallo, Mobil’s manager of refining for Australia and New Zealand, says that the tank represents another major investment in the refinery that complements other recent investments to improve ExxonMobil’s competitive position in Australia.
‘During the past five years, ExxonMobil has invested more than $400 million at the Altona Refinery and Yarraville Terminal. Recent investments include the construction of a 3km pipeline connecting Yarraville Terminal to the Somerton jet fuel pipeline, construction of two new fuel storage tanks at Yarraville Terminal and work to increase Altona Refinery’s production.
‘The additional crude oil storage will help optimise ExxonMobil Australia’s integrated oil and gas business to support continued supply of high-quality, locally produced fuel products to Victorian businesses and households.’