Chevron Corp. said Thursday it has restarted its largest refinery that was shut down by Hurricane Katrina.
The refinery in Pascagoula, Miss., processes an average 325,000 barrels of crude oil a day, as well as producing 5 million gallons of gasoline.
San Ramon-based Chevron shut the refinery down shortly before Katrina hit. The hurricane damaged the refinery's marine terminal, cooling towers and other equipment.
"Safely restarting the Pascagoula Refinery is another terrific achievement of our employees in the Gulf Region, many of whom have had to overcome personal adversity to help us resume operations," said Jeet Bindra, the president of Chevron Global Refining.
Chevron shares fell $1.42, or 2.3 percent, to close at $59.54 Thursday on the New York Stock Exchange. The stock has traded between $49.81 and $65.98 over the past year. [Link - The Ledger]
I can still remember the burden that hurricane katrina caused to my family. I lost my beloved aunt. :( But there's still new hope now.
Posted by: Elisha - Credit Card Rewards | May 21, 2008 at 04:13 AM