4 Important Stories Affecting 2 Dow 30 Energy Stocks This Week
Exxon Mobil Corporation (NYSE:XOM): Current price $88.54
Genesis Energy (NYSE:GEL) will invest around $125 million to enhance existing assets and develop new infrastructure in Louisiana to link into Exxon Mobil Corporation’s Baton Rouge Refinery, one of the biggest refinery complexes in North America with refining capacity for over 500,000 barrels per day. The project should bring positive economic benefits both for the community of Baton Rouge and also the state of Louisiana. Additionally, Genesis will improve its current terminal at Port Hudson, Louisiana and build a new 18 mile-20 diameter crude oil pipeline linking Port Hudson to the Maryland Terminal and continuing downstream to the Anchorage Tank Farm. The firm will also construct a new crude oil unit train facility at the Baton Rouge Maryland Terminal.