Tuesday, December 19, 2006

Chevron Corp. on Monday said it has completed an expansion of its Pascagoula, Miss., refinery that will boost capacity by roughly 10 percent, or 5.5 million gallons.

The Pascagoula refinery is Chevron's largest wholly owned oil refinery. It processes about 330,000 barrels of crude per day into gasoline and other fuels.

Chevron had shut the plant for about two and half months to complete the expansion of its fluid catalytic cracking unit, which breaks down crude oil.

Chevron shares fell $2.05, or 2.7 percent, to end at $73.33 on the New York Stock Exchange. They have traded between $53.76 and $76.20 over the past year.