Exxon Mobil: One Refinery Coming Up To Cure High Margins


  • The refinery expansion is equal in size to many refineries.
  • Cenovus Energy is also bringing on the brand new Superior Refinery in Wisconsin.
  • The company has long started at a location with upstream production and then diversified downstream and sometimes into chemicals as well.
  • It is typical for the industry to shut down old costly capacity when margins are low and then build brand new expansion capacity when margins are high.
  • Guyana remains the key future production growth driver.

Working Pumpjacks On Sunset


The free market has a saying that the “cure for high prices is high prices”. Refining margins have been tremendous due to a shortage of refining capacity. The free market gets messy that way. But Exxon Mobil (

Exxon Mobil Earnings Growth Guidance

Exxon Mobil Earnings Growth Guidance (Exxon Mobil December 2022, Corporate Plan Presentation Update)

Hess Presentation Of Guyana Production Growth And FPSO's Planned Plus Map Of Operations

Hess Presentation Of Guyana Production Growth And FPSO’s Planned Plus Map Of Operations (Hess Corporate Presentation January 5, 2023)

Disclosure: I/we have a beneficial long position in the shares of XOM HES CVE either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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