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Proposed Steel Tariff Could Impact Exxon Mobil Refinery Expansion: Source

March 1, 2018

(Reuters) – A proposed expansion of an Exxon Mobil Corp oil refinery could be impacted by the Trump administration’s plan to place a 25 percent tariff on imported steel, a source familiar with the matter said on Thursday.

Exxon has been considering increasing its North American crude refining capacity since at least 2014, the company has said, but has not disclosed a final decision. An Exxon spokeswoman was not available for immediate comment.

The nation’s largest oil producer has been weighing adding new processing capacity to its 362,000 barrel-per-day Beaumont, Texas, plant that could make it the nation’s largest.

Reporting by Erwin Seba; Editing by James Dalgleish

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