Dean Mouhtaropoulos/Getty Images News
Exxon Mobil (NYSE:XOM) said it is gradually shutting down its 235K bbl/day Fos-Sur-Mer refinery in France due to ongoing strike action, after French unions CGT and Force Ouvriere called for a strike earlier this week following wage negotiations.
The move occurred a day after strike action prompted the shutdown of Exxon’s (XOM) 240K bbl/ay Port Jerome-Gravenchon oil refinery and Notre Dame de Gravenchon petrochemical site in France.
“This unfortunate situation may impact our customers, contractors, suppliers, and employees, and affects the international reputation of Exxon Mobil activities in France,” the company said.
Exxon Mobil (XOM) has slipped from highs in anticipation of a recession, but “now is exactly the time to buy XOM,” David Alton Clark writes in a bullish analysis published recently on Seeking Alpha.
