Exxon's Refinery Revamp On Track, Nears Sale Of Major LNG Terminal: Report
Portfolio Pulse from Lekha Gupta
Exxon Mobil Corporation (NYSE:XOM) is on track to complete the overhaul of its Beaumont, Texas refinery's hydrocracker by the end of March. Additionally, Exxon is nearing the sale of a majority stake in Italy's largest LNG terminal to VTTI, backed by Vitol. This move could enhance Exxon's position in the European LNG market.
March 05, 2024 | 4:02 pm
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Exxon Mobil is finalizing its refinery overhaul in Texas and is close to selling a majority stake in Italy's largest LNG terminal to VTTI. These developments could positively impact Exxon's operational efficiency and market position in Europe.
The completion of the refinery overhaul could improve Exxon's production efficiency and reduce operational costs. The sale of the LNG terminal stake to VTTI could enhance Exxon's strategic position in the European LNG market, potentially leading to increased market share and revenues. Both actions signal strong operational and strategic moves, likely to be viewed positively by investors.
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