Exxon Mobil is making progress restarting the nation's second largest refinery in the wake of Hurricane Harvey and is preparing to keep Florida supplied with gasoline as Hurricane Irma takes aim, Exxon CEO and Chairman Darren Woods told CNBC.
Flooding and other damage caused by Harvey temporarily cut about 20 to 25 percent of U.S. refining capacity. That included Exxon's massive Baytown, Texas, refinery, which closed last week due to operational issues caused by flooding.
The oil giant began the restart process on Friday at the refinery, which processes 585,000 barrels a day. Refiners must gradually resume operations to avoid damaging equipment.
"It's very difficult to predict exactly when all those units will be back up and we'll be back on our full load. But we're making good progress. We're hoping to get some units started up later this week, and then it will be one unit after another," Woods said in an interview that aired Thursday on CNBC's "Squawk Box."