BP is planning to invest $269m in several projects to improve efficiency and boost renewable diesel production at the Cherry Point refinery in the US state of Washington.
The three projects are also expected to reduce the refinery’s CO₂ emissions by approximately 160,000t per year, or 7% from existing levels, and create more than 300 local jobs over the next three years.
BP America chairman and president David Lawler said that the proposed investment plan complies with the firm’s 2050 net-zero emissions target and to reduce its products’ carbon intensity by 50% by 2050 or sooner.
Lawler added: “BP’s new investment in Cherry Point builds on a half-century of innovation in Washington state. It will position us to provide lower-carbon energy while creating jobs and reducing emissions in our operations.”
BP plans to invest $169m in Hydrocracker Improvement Project, which is intended to improve efficiency and reduce the number of planned maintenances. This is expected to result in fewer unit shutdowns and associated flaring events.
Work on the hydrocracker, which is said to be the heart of the refinery, is planned to commence later this year with completion scheduled in 2023.
Of the total investment announced, BP will allocate $55m for Cooling Water Infrastructure Project (CWI) to enhance cooling water infrastructure.
The project is expected to allow for increased utilisation with better energy efficiency.
BP plans to start work on the cooling water infrastructure later this year and complete it in 2023.
Additionally, the British firm will allocate $45m for the renewable diesel optimisation (RDO) project.
The project aims to more than double the renewable diesel production capacity at the refinery, to reach an estimated 2.6 million barrels a year. The additional capacity is planned to be made available in 2022.
Last month, BP Australia partnered with Macquarie Capital to assess the feasibility of producing green hydrogen at the Kwinana site in Western Australia.