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Long refinery outages loom as Harvey bears down on Louisiana plants

Published 08/30/2017, 10:48 AM
© Reuters. Long refinery outages loom as Harvey bears down on Louisiana plants
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  • As the Texas-Louisiana border area braces for severe flooding as Harvey made landfall earlier this morning, oil analyst Andy Lipow says refineries potentially could face 6-8 weeks of outages.
  • "I'm actually quite concerned about Beaumont-Port Arthur because they just got a huge amount of rain in 24 hours, and we've already seen flooding within the refineries themselves, so we don't know exactly how bad it's going to be," Lipow says.
  • Saudi Aramco-owned Motiva began a controlled shutdown of its 603K bbl/day Port Arthur facility, Exxon Mobil (XOM -0.2%) has closed its 363K bbl/day Beaumont refinery, and Valero (VLO +0.7%) and (TOT -0.7%) also suspended operations at refineries in the area.
  • At Lake Charles, La., Citgo and Phillips 66 (PSX -0.5%) already are operating their area facilities at reduced capacities, according to Lipow.
  • Lipow says Houston plants appeared to suffer minimal damage but were producing very few products because their access to crude oil is limited, adding that it could take refiners in the area 14-17 days to fully recover.
  • Now read: Phillips 66: The Harvey Impact

Original article

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