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Chevron Phillips Cedar Bayou cracker start-up expected in 1Q
HOUSTON, February 2, 2018 (PCW) -– Phillips 66 on Friday said its joint-venture Chevron Phillips ethylene plant at Cedar Bayou is expected to begin service in 1Q with a ramp-up to full production in 2Q.
The unit has an ethylene production capacity of 3.3 billion lbs/yr. additionally, the company said its Cedar Bayou petchems facility, which was severely impacted by Hurricane Harvey, has recovered from the storm.
Phillips 66 is moving ahead with a new 25,000 b/d isomerization unit at its Lake Charles Refinery. The unit will increase production of higher octane gasoline blend components and completion is expected by the end of 2019.
Its other joint-venture, DCP Midstream expects the expansion of the Sand Hills NGL Pipeline capacity from 280,000 b/d to 365,000 b/d to be complete in 1Q. Further expansion of the line to 450,000 b/d is expected in the second half of the year.
Phillips 66 reported Friday 4Q net income of $3.198 billion, up from $823 million in 3Q 2017. The increase was due to benefits from US tax reform, stronger commodity prices and higher volumes. The company’s chemicals segment, which reflects Phillips 66's equity investment in Chevron Phillips Chemical, reported 4Q net income of $27 million, down from $121 million in 3Q. The lower earnings was due to impacts from Harvey and lower chemicals sales volumes and higher depreciation, maintenance and operating costs. -- Samantha Hartke