ROHSTOFF INTERNATIONAL

17:00 | 10.11.2017
Chevron Phillips Chemical Celebrates Start-Up of U.S. Gulf Coast Petrochemicals Project at Old Ocean, Texas

Chevron Phillips Chemical Company LP (Chevron Phillips Chemical) today
celebrated the start-up of its world-scale polyethylene (PE) units in
Old Ocean, Texas that will play a pivotal role in the company’s
continuing dynamic growth strategy.

This press release features multimedia. View the full release here:
http://www.businesswire.com/news/home/20171110005060/en/
Night view of the polyethylene units in Old Ocean, TX. (Photo: Business Wire)
The new Old Ocean facility will produce up to 1,000,000 metric tons
annually to meet the growing demand for polyethylene from our customers
around the globe. These units can produce a wide variety of high quality
polyethylene resins ranging from metallocene linear low-density
polyethylene (LLDPE) to bi-modal resins for film and pipe products,
displaying the wide capability of Chevron Phillips Chemical Company’s
proprietary MarTech® technology.

“We announced plans to build these world-scale units in 2011, broke
ground in 2014 and today, we are celebrating the successful start-up of
commercial operations,” said Mark Lashier, president and CEO. “With
these new assets in place, we can penetrate new markets to reach new
customers, expand our global presence, and deliver on our growth
commitments to our owner companies.”

“Congratulations to CPChem on a milestone that is helping Phillips 66
achieve its vision of providing energy and improving lives,” said Tim
Taylor, president of Phillips 66. “The two new polyethylene units on the
Texas Gulf Coast will have a global impact, providing the world with
plastics for everything from automobile parts to smartphones. At the
same time, the project is creating hundreds of new jobs here in the U.S.
It’s a win-win that speaks to CPChem’s vision, courage and conviction.”

“CPChem is a critical part of Chevron’s investment strategy, and this
Gulf Coast expansion project is an important piece of the U.S. energy
value chain that has been revolutionized by shale resources,” said
Pierre Breber, Chevron’s executive vice president for Downstream and
Chemicals. “The two new polyethylene units enable CPChem to meet the
demand for a wide variety of valuable products. Today’s milestone is a
testament to the hard work of the entire CPChem organization.”
About Chevron Phillips Chemical Company LP
Chevron Phillips Chemical Company LP is an indirect wholly-owned
subsidiary of Chevron Phillips Chemical Company LLC, one of the world’s
top producers of olefins and polyolefins and a leading supplier of
aromatics, alpha olefins, styrenics, specialty chemicals, plastic piping
and polymer resins. With approximately 5,000 employees, the LLC and its
affiliates own $15.5 billion in assets, including 33 manufacturing and
research facilities in seven countries. Chevron Phillips Chemical
Company LLC is equally owned by Chevron U.S.A. Inc., an indirect
wholly-owned subsidiary of Chevron Corporation, and by wholly-owned
subsidiaries of Phillips 66, and is headquartered in The Woodlands,
Texas. For more information about Chevron Phillips Chemical,
visit www.cpchem.com.
Also, follow us on Twitter: @chevronphillips.

View source version on businesswire.com: http://www.businesswire.com/news/home/20171110005060/en/


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