Chevron Safely Restarts Pascagoula Refinery
SAN RAMON, Calif., Oct. 13, 2005 -- Chevron Global Refining announced today that it has successfully and safely restarted its Pascagoula, Miss., refinery, which was shut down prior to Hurricane Katrina.
The refinery produces 325,000 barrels per day of refined products. As Hurricane Katrina approached, Chevron took steps to protect staff and the environment by shutting down operations and securing the facility. The hurricane damaged the refinery's marine terminal, cooling towers and other equipment. It did not suffer significant flooding because of a perimeter dike installed after Hurricane Georges in 1998.
"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, president, Global Refining. "We continue to place a high priority on safety in all areas of our business following the hurricanes, as well as helping our employees and their communities recover from this catastrophe."
Chevron manufactures more than 2 million barrels a day of refined products, in 20 wholly owned or joint-venture refineries and asphalt plants, and markets motor fuels through more than 25,000 retail outlets. The Pascagoula Refinery is Chevron's largest wholly owned petroleum refinery processing an average 325,000 barrels of crude oil a day and producing a variety of products including 5 million gallons of gasoline a day.
CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION FOR THE PURPOSE OF "SAFE HARBOR" PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
This press release of Chevron Corporation contains forward-looking statements relating to Chevron's operations at its Pascagoula, Mississippi, refinery that are based on management's current expectations, estimates and projections about the petroleum, chemicals and other energy-related industries. Words such as "anticipates," "expects," "intends," "plans," "targets," "projects," "believes," "seeks," "estimates" and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, some of which are beyond our control and are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this release. Unless legally required, Chevron undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
Among the factors that could cause actual results to differ materially are unknown or unexpected problems in the resumption of operations affected by Hurricanes Katrina and Rita, crude oil and natural gas prices; refining margins and marketing margins; chemicals prices and competitive conditions affecting supply and demand for aromatics, olefins and additives products; actions of competitors; inability or failure of the company's joint-venture partners to fund their share of operations and development activities; potential failure to achieve expected net production from existing and future oil and gas development projects; potential disruption or interruption of the company's net production or manufacturing facilities due to war, accidents, political events or severe weather; potential liability for remedial actions under existing or future environmental regulations and litigation; significant investment or product changes under existing or future environmental regulations (including, particularly, regulations and litigation dealing with gasoline composition and characteristics); and potential liability resulting from pending or future litigation. In addition, such statements could be affected by general domestic and international economic and political conditions. Unpredictable or unknown factors not discussed herein also could have material adverse effects on forward-looking statements.
Updated: October 2005