Shares of San Ramon-based Chevron plunged on Wednesday, the first trading day after the oil company said its third quarter would be weaker than the second quarter.

Chevron's shares sank 4.2 percent, or $4.91, and finished at $112.45.

The energy giant was hobbled by the Richmond refinery fire, which slashed the company's refining capacity by 92,000 barrels a day. The fuel factory has a capacity of 245,000 barrels a day. The reduction means the refinery is operating at roughly 63 percent capacity, the company report shows.

Separately, Hurricane Isaac erased 19,000 barrels a day of refining capacity for Chevron in the Gulf of Mexico region.

Chevron also disclosed that the crude distillation unit that was knocked out by the disastrous fire on Aug. 6 would be offline until at least the end of this year. The loss of the unit has hobbled the Richmond refinery, which now primarily blends gasoline with the crude unit disabled.

Contact George Avalos at 925-977-8477. Follow him at twitter.com/george_avalos.



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