Exxon's Joliet Refinery Stays Offline After Floodwater Overwhelms Pump
XOM sits 48% above its 52-week low of $110.385.
Summary
ExxonMobil's 275,000-barrel-per-day Joliet refinery remains offline after floodwater overwhelmed a pump, compounding an earlier power outage that triggered a safety flare. The company has deployed a containment boom and confirmed power is restored, but the pump issue is unresolved and the facility flared again on Wednesday. The refinery is a key Midwest fuel supplier, producing about 11 million gallons per day of gasoline and diesel, and the outage comes amid a tight global fuel market with diesel prices above $6 a gallon. This disruption could pressure regional fuel supply and margins, though the financial impact on Exxon's overall earnings is likely modest given its diversified portfolio. Watch for updates on the refinery's restart timeline and any further flaring or environmental issues.
At the time of this announcement, XOM was trading at $163.46 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $671.4B. The 52-week trading range was $110.39 to $176.41. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Reuters.