xon press release
A little info on gas prices.....ExxonMobil did contribute 7 million to
the relief fund...
Fairfax Public Affairs 09/02/05 03:19
Subject
INFO: Hurricane Katrina's Effect
on
our Operations & Gasoline Prices
Hurricane Katrina's Effect on our Operations & Gasoline Prices
As you have witnessed, thousands of people in the Gulf-coast area are
experiencing firsthand the physical and emotional hardship of the
devastation caused by Katrina. Many ExxonMobil employees and families
have been impacted by this terrible disaster, the full extent of which
is still being assessed. Our hearts and prayers are with the families
and loved ones of those impacted by this and with the survivors as they
begin putting their lives back in order.
For employees impacted by the hurricane, ExxonMobil has established an
assistance program which includes interest-free emergency loans,
advances in salary, paid time off to attend to personal needs, and
access to temporary transportation assistance.
If you are in touch with any employees affected by the hurricane, please
have them call the toll-free assistance line (877-294-8617) or their
immediate supervisor as soon as possible to advise of their status and
to discuss any needed Company assistance. Since establishing the
toll-free line, we have already heard from over half our affected
employees, and the rate of calls continues to increase.
What is the Status of our Operations?
Operations at Chalmette Refining remain shut down. We were able to gain
access to the refinery Thursday, September 1, to assess the situation,
and it appears to be in better condition than initially anticipated.
However, it is still too soon to conduct a thorough assessment. The
safety and well-being of our employees is still the biggest challenge
facing us. Restoring basic infrastructure in the New Orleans area, a
stable supply of electricity, and reopening of the Mississippi are
essential to being able to repair and operate the refinery.
Our Baton Rouge refinery continued to operate throughout the hurricane
and is currently running at a reduced rate due to limited crude
supplies. We will be increasing the production of gasoline and other
fuel products over the next several days and will promptly ramp-up
production rates further as crude supply from the Louisiana Offshore Oil
Port (LOOP) and other sources increase above today's levels. This will
help ease customer demands in regions hit hardest by Hurricane Katrina.
We are working closely with the U.S. Government and others to restore
gasoline supply. Efforts include the release of crude from the
Strategic Petroleum Reserve (SPR), waivers to expedite the flow of
gasoline and diesel around the country -- actions that are very helpful
at a time when logistics and distribution of fuels is extremely
difficult and critical.
What is Going on with Gasoline Prices?
Even before the hurricane's devastating impact, American consumers were
obviously concerned over the rising cost of gasoline, diesel and other
fuels.
Energy markets, including the commodity gasoline market, are global,
openly traded and transparent. The storm has generated a fundamental and
significant impact to near term supplies in the U.S. As a result of
these supply and demand impacts, spot commodity gasoline prices in
commercial markets have increased.
Over the past several days, heightened price volatility and uncertain
gasoline supplies associated with this major natural disaster have
created an extremely difficult situation for ExxonMobil's customers.
Demand at the company's Exxon and Mobil stations has nearly doubled.
Wholesale spot market and NYMEX gasoline prices have risen substantially
in the U.S. and around the world.
ExxonMobil is making branded fuel available to its independent retailers
and distributors at wholesale prices below the spot market and NYMEX
gasoline prices. The vast majority of Exxon and Mobil service stations
are operated by individual dealers and distributors who purchase their
fuel products from ExxonMobil and set their own retail prices.
The company encourages its independent dealers and distributors to act
as responsible neighbors in their communities in this difficult
situation.
We will continue to follow the market dynamics and focus on restoring
supply stability.
ExxonMobil is providing in-kind fuels and lubricants to government
emergency responders.
Katrina's aftermath, however, underscores the need for all drivers to
take seriously common-sense energy conservation recommendations for
reducing the amount of fuel they consume. |
