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Exxon to boost Texas refinery capacity by 20K barrels

Aug. 04, 2015 5:34 PM ETExxon Mobil Corporation (XOM) StockXOMBy: Carl Surran, SA News Editor1 Comment
  • Exxon Mobil (NYSE:XOM), which fell to another 52-week low today, says it is planning a 20K bbl/day capacity expansion at its 345K bbl/day refinery in Beaumont, Tex., to accommodate increased processing of U.S. light crudes.
  • The move shows XOM could become more interested in refining as a way to replace reduced profits from crude production as the gap between upstream and downstream profit narrows, 24/7 Wall Street's Paul Ausick writes.
  • XOM does not disclose a timeline or an estimated cost for the proposed project.

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