Exxon CEO cites progress in Harvey recovery, preparations for Irma By Seeking Alpha
- Exxon Mobil (XOM +0.2%) is making good progress in restarting operations at its Baytown, Tex., refinery in the wake of Hurricane Harvey, and it’s doing their best to ensure Florida will be provided by gasoline after Hurricane Irma passes through the state, CEO Darren Woods tells CNBC.
- “It’s difficult to predict exactly when hundreds of units will probably be back and we’ll be back on our full load” in the 560K bbl/day Baytown refinery, the second biggest while in the U.S., “but we’re making good progress. We’re seeking some units cranked up in a few days, then it can be one unit after another,” Woods says.
- XOM’s Beaumont, Tex., refinery, which processes 363K bbl/day, remains offline caused by flooding, though operations with the Beaumont chemical manufacturing complex restarted on Sunday.
- XOM has not yet assessed Harvey’s relation to Q3 earnings, but Woods says the storm will not likely affect its capital spending plans.
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