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(Image courtesy of ExxonMobil)

ExxonMobil will invest $1 billion to increase diesel production at its Antwerp refinery, the company announced on Wednesday.

The company will add a delayed coker unit at the 320,000 bpd refinery in Belgium that will convert high-sulfur oil to diesel for use in trucks and ships.

Exxon has spent $2 billion in the past decade on expansions in the refinery including a 130 megawatt power plant and hydrotreater unit that reduces sulfur from fuels, according to the company.

“The investment addresses an industry shortfall in capability to convert fuel oil to products such as diesel… (the expansion) is the first of several being evaluated to further strengthen strategic refineries in Europe to more successfully face the challenging industry environment.” said the company.