This topic contains 3 replies, has 2 voices, and was last updated by Anonymous 13 years, 8 months ago.
October 17, 2007 at 7:32 pm #3912
Associated Press – October 17, 2007 9:14 AM ET
BILLINGS, Mont. (AP) – An explosion has been reported at the Exxon refinery in Billings this morning.
A fireball shot into the sky at about 6:19 a.m. It dissipated after about two minutes. No injuries have been reported, and the company’s fire department is handling the situation. The explosion was confirmed by Jim Kraft, director Yellowstone County’s emergency and general services.
No information was immediately available on what caused the explosion. Information from: Michael Lyon/KBLG-AM, http://www.kblg.com
October 17, 2007 at 7:42 pm #7223
Oct 17, 2007 10:04 AM CDT –
At 6:20 this morning an explosion occurred causing a fire at the Exxon-Mobil Refinery in Lockwood.
Exxon officials say it was caused by a malfunction in one of the processing units.
Exxon Fire Brigade says the fire is 100-percent contained.
All employees have been and accounted for and no injuries have been reported at this time.
Officials say the incident poses no community health impacts.
Exxon has set up an information hotline for the community, contact 657-5411
October 17, 2007 at 7:46 pm #7222
Update – Bad News / Good News = Explosion at Exxon Billings (Lockwood) Refinery but no one hurt.
Noticed that price crude jumped to $88/bbl on news release, which is absurd since it only process 60 MBD crude, I think it just shows that Stock Market Mutal Fund traders are playing Oil industry crude price volatility just like it was a stock and that they don’t really understand much about the market. <It already makes no sense to have ~$2.50/gal gasoline at $80+/Bbl crude price, and is another proof this is a result of supply risk driving future price not commodity driven demand price event>.
Since Mutual Fund traders have no way of supplying crude (I.e. pure paper play that has burnt many a crude trader) as a way to mitigate the hedge – why on earth aren’t the Refiners calling the bluff on this hedge and picking up their money?? The margins have to really suck at low product / high feedstock differentials
January 31, 2008 at 1:36 pm #7076
News release out – Cause of ExxonMobil Billings Refinery fire has been determined here is link to the story
Think XOM used to not treat thier overhead system against corrosion with caustic wash – and usually during their 3 year turnarounds they just replaced top part of towers (Billings refinery is so small compared to scale of other XOM plants that they almost seemed treat it like R&D pilot plant) but thought they changed that practice several years ago?
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