XOM · Earnings call · 2026Q3T · Full report

Refining Capacity and Utilization

ExxonMobil Holdings Corp · 2026-10-30 · Importance 32 · Surprise 24

ExxonMobil said its Beaumont, Texas, expansion added the equivalent of a medium-sized refinery and is helping meet current demand for refined products. Global utilization of fuels manufacturing facilities, excluding Middle East impacts, reached a record, while year-to-date diesel production was roughly 1.1 million barrels per day. U.S. Gulf Coast reconfiguration projects are expected to increase distillate yield by about 100,000 barrels per day, with work underway at Baytown and further investments planned at Baton Rouge and Beaumont. Management said the company is also seeking to upgrade refinery output toward higher-value diesel, chemical feedstocks, lubricants, Proxxima, and carbon materials.

Key facts

ExxonMobil's U.S. Gulf Coast reconfiguration projects are expected to increase distillate yield by about 100,000 barrels per day; the first phase is underway at Baytown.
ExxonMobil runs about 3.6 million barrels of crude through its refineries each day and sells about 5.7 million barrels of gasoline, diesel, and other finished products daily.
ExxonMobil completed a $2 billion Beaumont, Texas, expansion in 2023 that added the equivalent of a medium-sized refinery; the investment paid for itself in about three years.
ExxonMobil produced roughly 1.1 million barrels per day of diesel year to date.
ExxonMobil is investing in Baytown and plans investments in Baton Rouge and Beaumont to significantly improve production of diesel, chemical feedstocks, and lubricants.
ExxonMobil's refineries have run at record utilization levels of around 84%, while its Gulf Coast refineries have run at crude-unit utilization around 100%.
ExxonMobil's global fuels manufacturing utilization, excluding Middle East impacts, is at its highest level on record.
ExxonMobil plans additional phases across U.S. manufacturing sites to increase yields of diesel, lubricants, and chemical feedstocks.