The roughly $400 million project will increase the oil major’s capacity to process...
and aging refineries shut down, expansion projects undertaken by big oil companies who can afford to invest allow the industry to grow its ability to process oil. The U.S. has less than half the number of refineries it had in 1985, when more than 300 refineries had a combined capacity of 15.7 million barrels per day. Today, the nation’s 130 refineries produce 17.9 million barrels per day — about 14 percent more.
Adding light crude capacity is an obvious choice for oil companies looking to invest in refinery expansions so close to the source, said Rob Smith, director of global fuel retail at S&P Global.bought the then-troubled facility
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