BP OKs Major Investment in Whiting
(Image courtesy of The Times of Northwest Indiana)
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowBP PLC (NYSE: BP) has announced the next large-scale project at its Whiting Refinery. Our partners at The Times of Northwest Indiana report the company has approved construction of a new hydrotreater, an effort that will cost hundreds of millions of dollars and create hundreds of construction jobs.
The BP Whiting Refinery is the country’s largest inland refinery. Nearly three years ago, the company wrapped-up construction on a modernization project that is considered the largest single, private investment in state history. The $4.2 billion effort has allowed the facility to take on heavier crude from sources such as Canada. The Times reports up to 14,000 union workers contributed to the multi-year project, which helped give a lift to the Region during the Great Recession.
East Chicago Mayor Anthony Copeland says the new project comes "at a moment of need" for the community. With national oil markets dipping in recent times, cutbacks continue industry-wide. Copeland sees the upcoming investment as another boost over the next few years.
Only around 130 refineries are currently located in the U.S.
The new equipment will emit lower levels of sulfur and help the plant meet more rigorous standards set forth by the U.S. Environmental Protection Agency.
Construction is slated to begin next year and will take several years to complete.
You can read the full story in The Times of Northwest Indiana.