Exxon Mobil (NYSE:XOM) plans new US chemical plant
The plant, which could be online as soon as Y 2016, would increase Exxon Mobil's chemical production capacity and help it compete more effectively with rival Dow Chemical Co ( DOW ), the largest US chemical maker.
Exxon Mobil has been North America's largest Nat Gas producer since its 2010 purchase of XTO Energy Inc.
Its decision to build the new plant comes after an announcements by Dow, as well as Royal Dutch Shell Plc (NYSE:RDS-A), LyondellBasell ( LYB ) and others to expand their US chemical production.
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