TELETRADER News
9/19, 3:31 PM (Source: TeleTrader)
more TeleTrader news

Exxon to shut down Texas refinery due to flood - report

American oil and gas corporation Exxon Mobil Corp. is allegedly preparing to shut down its Beaumont Texas refinery because of flooding caused by Storm Imelda in August.The company added that it shut down all operations on time and brought fuel from unaffected locations to aid in response and recovery, according to sources quoted by Reuters.

The company said yesterday they are trying to sell its oil and gas operations in southeast Australia as part of a move to shed assets and boost shareholder returns.

Exxon is following a $15 billion loosening plan, dumping older assets to fund higher-growth projects from Papua New Guinea to Texas and Brazil.

Breaking the News / TF