CNBC: Exxon CEO Says Making Progress Restarting Refinery In Texas

Reuters

Sept 7 (Reuters) - Exxon Mobil Corp is making good progress as it restarts operations at its Baytown, Texas refinery following Hurricane Harvey, Chief Executive Darren Woods told CNBC.

The world's largest publicly traded oil producer on Sunday restarted operations at the 560,500-barrel-per-day refinery - the nation's second-largest.

"It's very difficult to predict exactly when all those units will be back up and we'll be back on our full load. But we're making good progress. We're hoping to get some units started up later this week, and then it will be one unit after another," Woods said.

Exxon has not yet assessed Harvey's impact on third quarter earnings, Woods told the TV channel.

Harvey tore through Corpus Christi in southern Texas on Aug. 25 and then drenched the Houston area with historic rains, knocking out nearly a fifth of U.S. oil-refining capacity. Oil companies are now bracing for Hurricane Irma, one of the most powerful Atlantic storms in a century.

Irma has not impacted any of the oil major's offshore Gulf of Mexico operations yet, Woods said.

Part of Exxon's Harvey response team has been tasked with planning for Irma, which could make landfall in Florida this weekend, CNBC reported.

(Reporting by Nivedita Bhattacharjee; Editing by Shounak Dasgupta and Saumyadeb Chakrabarty)

Copyright 2017 Thomson Reuters. Click for Restrictions.

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Rich | Sep. 7, 2017
Its all BS! Just another way to raise prices! Again we are getting screwed!


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