Exxon said to slow Gulf refinery expansion after slump in fuel demand

BLOOMBERG | Exxon Mobil Corp. will delay the startup of its Beaumont refinery expansion on the Texas Gulf Coast by a year as the oil giant weathers low demand for petroleum products and seeks to save cash amid the COVID-19 pandemic, people familiar with the plans said.

The project, which will make Beaumont the biggest refinery in the U.S., will now be up and running sometime in 2023, compared with a previous target of 2022, the people said.

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