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Exxon defends handling of Torrance refinery outage

Aug. 22, 2016 11:59 AM ETExxon Mobil Corporation (XOM) StockXOMBy: Carl Surran, SA News Editor5 Comments
  • Exxon Mobil (XOM -0.1%) defended its handling of an outage at its Torrance refinery in California following a February 2015 explosion that knocked a gasoline producing unit offline for more than a year, after the Vitol trading company told a state commission that the process had lacked transparency.
  • XOM said it had "operated responsibly and in strict compliance with all laws," after Vitol said a lack of information from XOM made it difficult to time cargo deliveries into the U.S. west coast market.
  • A Vitol trading told a committee of the California Energy Commission earlier in the week that XOM promising that the Torrance refinery would come back online "next month," but that it never seemed to happen.
  • PBF Energy acquired the 149K bbl/day Torrance refinery, which provides ~10% of California's gasoline supply, from XOM on July 1.

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