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Total to make FID on new Port Arthur cracker this year
HOUSTON, February 9, 2017 (PCW) – Total on Thursday said it would make a final investment decision on a new 2.2 billion lbs/yr cracker this year.
The proposed plant would be located next to its current 2.128 billion lbs/yr joint-venture cracker with BASF at Port Arthur.
An FID was originally expected last year. The ethane cracker is expected to consume 60,000 b/d of ethane.
Total also reported 4Q net income of $2.4 billion, a 16% increase from the year-ago period, due its ongoing multi-billion asset sales and lower production costs.
The refining and chemicals group reported net operating income of $1.138 billion in 4Q, up 13% from 4Q 2015, which was attributed to its integrated platforms in Asia and the Middle East. -- Samantha Hartke