Exxon's Beaumont, Texas Refinery Could Restart Most Operations This Week

Exxon Mobil (XOM) could restart a majority of its production units at its Beaumont refinery in Texas by the end of this week, Reuters reports.

The Refinery, which accounts for 362,300 barrels per day (bpd), was shut down on August 30 due to the damaging effects caused by Hurricane Harvey.

Two crude distillation units at the refinery were already restarted last week, as well as its 40,000 bpd diesel hydrotreater. Beaumont's 45,000 bpd coking unit is slated for full-production by the last week of September.

Despite the refinery's closure, shares of Exxon are higher over 4.7% since its operations were halted.

Shares of the oil conglomerate were rising in pre-market trading on Monday. 

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