Exxon threatens to suspend French refinery if strike continues (NYSE:XOM)

Exxon Mobil (NYSE:XOM) said Tuesday it may need to stop production at its Gravenchon refinery in northern France if striking workers continue to block access to the site.

Blockades since Friday have prevented deliveries of goods and materials needed to maintain operations at the refinery, the company told Reuters.

A group of workers called a strike last month after Exxon (XOM) said it would shut down the refinery’s steam cracker and stop making chemicals at the site, also known as Port Jerome, this year.

Exxon (XOM) has said the Gravenchon site has lost more than €500M since 2018 and remains uncompetitive; the plant nevertheless accounts for ~20% of France’s refining capacity.