ExxonMobil to Increase Gasoline Supply to U.S. Gulf Coast
02 Septembre 2005 - 8:22PM
Business Wire
ExxonMobil's second largest U.S. refinery, located in Baton Rouge,
Louisiana, will be increasing the production of gasoline and other
fuel products over the next several days and will promptly ramp-up
production rates further as crude supply from the Louisiana
Offshore Oil Port (LOOP) and other sources increase above today's
levels. This will help ease customer demands in regions hit hardest
by Hurricane Katrina. The U.S. Department of Energy has approved
ExxonMobil's request for a loan of up to 6 million barrels of oil
from the nation's Strategic Petroleum Reserve to help ExxonMobil
gain access to additional crude supplies at Baton Rouge. Over the
past several days the company has coordinated with governments,
industry and utilities to restore power to industry pipelines and
Mississippi River marine transportation so that crude can be
delivered to the refinery. Increasing production at ExxonMobil's
Baton Rouge refinery should have significant positive impacts to
customers. The next step is to work with industry to restore
pipeline transportation to increase product supplies in areas
affected by the hurricane. This has been difficult due to the
outage of the Colonial and Plantation Pipeline systems. Plantation
Pipeline is now reportedly open at near full capacity. Over the
past several days, heightened price volatility and uncertain
gasoline supplies associated with this major natural disaster have
created an extremely difficult situation for ExxonMobil's
customers. Demand at the company's Exxon and Mobil stations has
nearly doubled. Wholesale spot market and NYMEX gasoline prices
have risen substantially in the U.S. and around the world.
ExxonMobil is making branded fuel available to its independent
retailers and distributors at wholesale prices below the spot
market and NYMEX gasoline prices. The vast majority of Exxon and
Mobil service stations are operated by individual dealers and
distributors who purchase their fuel products from ExxonMobil and
set their own retail prices. The company encourages its independent
dealers and distributors to act as responsible neighbors in their
communities in this difficult situation. ExxonMobil also urges
motorists to continue to be prudent in their purchases. For
example, frequent "topping off" of tanks will only create
artificial shortages.
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