- Tropical Storm Harvey has knocked offline ~22% of Gulf of Mexico oil production, or nearly 380M bbl/pay out of 1.75M, and ~26% of natural gas output, or 828M cf/day out of 3.22T, according to the U.S. Department of the Interior’s Bureau of Safety and Environmental Enforcement.
- Exxon Mobil (NYSE:XOM) closed its Baytown refinery at the Houston Ship Channel - the second largest refinery in the U.S., with production capacity of 560K bbl/day - due to severe flooding.
- Royal Dutch Shell (LON:RDSa) (RDS.A, RDS.B) says its 325K bbl/day Deer Park refinery and chemical plant complex may be shut for a week, Petrobras (NYSE:PBR) shut its 112K bbl/day Pasadena plant, and Phillips 66 (NYSE:PSX) shut its 247K bbl/day Sweeny refinery.
- Magellan Midstream Partners (NYSE:MMP) has limited operations at its Galena Park marine terminal, but its refined products and crude oil pipelines in Texas remain online.
- All Corpus Christi refineries already were closed, so the Houston plant closures compound worries about fuel shortages that could develop as rain continues; long-term refinery outages could cause fuel shortages and sharply higher gasoline prices around the U.S.
- Valero Energy (NYSE:VLO) says its two Corpus Christi-area refineries that were shut ahead of the storm sustained only minor damage, so it could restart operations when the port becomes functional.
- Buckeye Partners (NYSE:BPL) says its facilities in Corpus Christi have not suffered major damage but remain offline for now.
- Houston also is the starting point of the massive Colonial Pipeline that takes gasoline, diesel and jet fuel as far north as New York, but operations had not been affected as of this afternoon; Shell is one of Colonial's partners.
- Now read: Exxon Mobil Dividend Head Fake
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Houston refineries, including Exxon's Baytown, shut in by Harvey
Published 08/27/2017, 05:35 PM
Houston refineries, including Exxon's Baytown, shut in by Harvey
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