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ExxonMobil (XOM) to Shut Louisiana Refinery for Repair Work
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Exxon Mobil Corporation (XOM - Free Report) intends to shut a coker and crude distillation unit (“CDU”) for maintenance activities at its Baton Rouge refinery in Baton Rouge, LA, per a report by Reuters.
Baton Rouge is one of the largest oil refineries in the United States, with a capacity of 520,000 barrels per day (bpd).
In January 2023, ExxonMobil plans to shut down the Far East Coker to replace all of its coke drums. The replacement work is expected to take 68 days to complete.
In coker units, residual crude oil from the distillation column is converted into feedstocks for motor fuels or petroleum coke to be used as a coal substitute.
The residual crude is heated to its thermal cracking temperature of 900 Fahrenheit. It is then injected into the giant drums, where it begins to spill and harden against the drum wall. After this, hot water pressure jets cut the hardened coke away from the drum wall and the base of the drum opens to unload the coke into a collecting surface.
While the coker remains closed, maintenance activities will be executed on the CDUs. The first work will be done on the 210,000-bpd PSLA-10, the largest of the four CDUs at the refinery. Following this, work will be done on the 110,000-bpd PSLA-9 and the remaining two 90,000-bpd CDUs — PSLA-7 and PSLA-8.
RPC is among the leading providers of advanced oilfield services. With no debt load, RPC had cash and cash equivalents of $78.2 million at the second-quarter end. This reflects the company’s strong balance sheet that provides it with massive financial flexibility.
RPC has witnessed upward earnings estimate revisions for 2022 and 2023 in the past 30 days. The company currently has a Zacks Style Score of A for Growth. RES is expected to see earnings growth of 1,733.3% for 2022.
TotalEnergies is among the top five publicly traded global integrated oil and gas companies. TTE is managing long-term debt quite efficiently and trying to keep the same at manageable levels. As of Jun 30, 2022, cash and cash equivalents were $32,848 million. This was enough to address the current borrowings of $14,589 million.
TotalEnergies has witnessed upward earnings estimate revisions for 2022 and 2023 in the past 30 days. The company currently has a Zacks Style Score of A for Value and Growth. TTE is expected to see earnings growth of 107% in 2022.
Petrobras is the largest integrated energy firm in Brazil. As the company focuses on regaining its financial footing by selling assets and curtailing debt load, it successfully managed to lower gross debt below its 2022 target of $60 billion in the third quarter of 2021, well ahead of time. Post the latest quarter earnings, the figure stands at $53.6 billion.
Petrobras has witnessed upward earnings estimate revisions for 2022 and 2023 in the past 30 days. The company currently has a Zacks Style Score of A for Value, and B for Growth and Momentum. PBR is expected to see earnings growth of 128.2% for 2022.
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ExxonMobil (XOM) to Shut Louisiana Refinery for Repair Work
Exxon Mobil Corporation (XOM - Free Report) intends to shut a coker and crude distillation unit (“CDU”) for maintenance activities at its Baton Rouge refinery in Baton Rouge, LA, per a report by Reuters.
Baton Rouge is one of the largest oil refineries in the United States, with a capacity of 520,000 barrels per day (bpd).
In January 2023, ExxonMobil plans to shut down the Far East Coker to replace all of its coke drums. The replacement work is expected to take 68 days to complete.
In coker units, residual crude oil from the distillation column is converted into feedstocks for motor fuels or petroleum coke to be used as a coal substitute.
The residual crude is heated to its thermal cracking temperature of 900 Fahrenheit. It is then injected into the giant drums, where it begins to spill and harden against the drum wall. After this, hot water pressure jets cut the hardened coke away from the drum wall and the base of the drum opens to unload the coke into a collecting surface.
While the coker remains closed, maintenance activities will be executed on the CDUs. The first work will be done on the 210,000-bpd PSLA-10, the largest of the four CDUs at the refinery. Following this, work will be done on the 110,000-bpd PSLA-9 and the remaining two 90,000-bpd CDUs — PSLA-7 and PSLA-8.
Exxon Mobil Corporation Price
Exxon Mobil Corporation price | Exxon Mobil Corporation Quote
Based in Irving, TX, ExxonMobil currently flaunts a Zacks Rank #1 (Strong Buy). Some other top-ranked players in the energy space are RPC, Inc. (RES - Free Report) , TotalEnergies SE (TTE - Free Report) and Petrobras S.A. (PBR - Free Report) , currently sporting a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
RPC is among the leading providers of advanced oilfield services. With no debt load, RPC had cash and cash equivalents of $78.2 million at the second-quarter end. This reflects the company’s strong balance sheet that provides it with massive financial flexibility.
RPC has witnessed upward earnings estimate revisions for 2022 and 2023 in the past 30 days. The company currently has a Zacks Style Score of A for Growth. RES is expected to see earnings growth of 1,733.3% for 2022.
TotalEnergies is among the top five publicly traded global integrated oil and gas companies. TTE is managing long-term debt quite efficiently and trying to keep the same at manageable levels. As of Jun 30, 2022, cash and cash equivalents were $32,848 million. This was enough to address the current borrowings of $14,589 million.
TotalEnergies has witnessed upward earnings estimate revisions for 2022 and 2023 in the past 30 days. The company currently has a Zacks Style Score of A for Value and Growth. TTE is expected to see earnings growth of 107% in 2022.
Petrobras is the largest integrated energy firm in Brazil. As the company focuses on regaining its financial footing by selling assets and curtailing debt load, it successfully managed to lower gross debt below its 2022 target of $60 billion in the third quarter of 2021, well ahead of time. Post the latest quarter earnings, the figure stands at $53.6 billion.
Petrobras has witnessed upward earnings estimate revisions for 2022 and 2023 in the past 30 days. The company currently has a Zacks Style Score of A for Value, and B for Growth and Momentum. PBR is expected to see earnings growth of 128.2% for 2022.