Phillips 66 to build natural gas liquids fractionator in Texas
April 2 (Reuters) - Phillips 66 plans to set up a 100,000-barrel-per-day natural gas liquids fractionator near its Sweeny refinery in Old Ocean, Texas, to cater to the booming petrochemical industry.
Construction is expected to begin in the first half of 2014, with startup projected by the second half of 2015, the company said on Tuesday.
Abundant supplies of shale gas have resulted in a resurgence in the U.S. chemical industry, and several energy companies are building fractionators, or gas processing plants, to provide feedstock.
The project will create more than 25 full-time jobs, Phillips 66 said.
- Pennsylvania sniper held without bail in trooper shooting |
- Nurse defies Ebola quarantine with bike ride; negotiations fail |
- Global shares jump, yen slumps as BOJ cranks up stimulus |
- Special Report: Tsunami evacuees caught in $30 billion Japan money trap
- Wall St. rallied broadly as BOJ ramps up stimulus