• 4 minutes Tariffs to derail $83.7 Billion Chinese Investment in West Virginia
  • 9 minutes Battle for Oil Port: East Libya Forces In Full Control At Ras Lanuf
  • 17 minutes Kaplan Says Rising Oil Prices Won't Hurt US Economy
  • 1 min Saudi Arabia turns to solar
  • 16 hours Kaplan Says Rising Oil Prices Won't Hurt US Economy
  • 10 hours Could oil demand collapse rapidly? Yup, sure could.
  • 5 hours Corruption On The Top: Netanyahu's Wife Charged With Misuse of Public Funds for Meals
  • 15 mins Battle for Oil Port: East Libya Forces In Full Control At Ras Lanuf
  • 10 mins Russia's Energy Minister says Oil Prices Balanced at $75, so Wants to Increase OPEC + Russia Oil by 1.5 mbpd
  • 10 hours Gazprom Exports to EU Hit Record
  • 7 hours U.S. Withdraws From U.N. Human Rights Council
  • 1 day Tariffs to derail $83.7 Billion Chinese Investment in West Virginia
  • 11 hours OPEC Meeting Could End Without Decision - Irony Note Added from OPEC Children's Book
  • 15 hours China’s Plastic Waste Ban Will Leave 111 Million Tons of Trash With Nowhere To Go
  • 9 hours "The Gasoline Car Is a Car With a Future"
  • 9 hours What If Canada Had Wind and Not Oilsands?
  • 4 hours EU Confirms Trade Retaliation Measures vs. U.S. To Take Effect on June 22
  • 21 hours EVs Could Help Coal Demand
  • 9 hours Sell out now or hold on?

Breaking News:

Saudi Aramco Clears Another IPO Hurdle

Alt Text

Is This The Most Contentious OPEC Meeting Yet?

OPEC’s members have been divided…

Alt Text

Shale Shifts Attention To This ‘Forgotten’ Oil Play

As the Permian becomes overcrowded,…

Irina Slav

Irina Slav

Irina is a writer for the U.S.-based Divergente LLC consulting firm with over a decade of experience writing on the oil and gas industry.

More Info

Trending Discussions

Hurricane Irma Prompts Oil Storage, Port Shutdowns

Irma

Hurricane Irma has prompted the shutdown of at least two oil storage complexes in the Caribbean, with a combined capacity of 18.6 million barrels, S&P Platts reports. One of these, a 14-million-barrel terminal on the island of St Eustatius operated by NuStar Energy sustained damages to some of its tanks and other equipment, the company said.

The other facility, Buckeye Partners’ Yabucoa storage complex in Puerto Rico, was shut down on Tuesday and the company is now preparing its 26.2-million-barrel storage facility on Grand Bahama Island for the hurricane. Statoil, which also has a storage site in Freeport on Grand Bahama, is monitoring developments but has not yet closed the facility.

The hurricane, which has already caused 14 deaths in the Caribbean, is moving toward Florida and is expected to make landfall on Sunday, passing through the Bahamas and Cuba en route. Some 1.2 million people have been affected by Irma so far, according to Red Cross data, and this number could shoot up to 26 million as a result of the damage done by the storm.

In Florida, ports will start closing today ahead of the storm, and this could disrupt the supply of oil products, Platts notes. Florida receives 97 percent of its oil products by sea, with throughput at Port Everglades, in eastern Florida, at 121.07 million barrels last year. Port Everglades is among the terminals that will be closed. Related: China Declares Support For Punitive Action Against North Korea

Already in some parts of the state, fuel retailers are reporting shortages as people stock up on gasoline ahead of Irma’s arrival and evacuate. Meanwhile, two more storms are brewing in the region, with the U.S. National Hurricane Center expecting Jose to intensify to a major hurricane by the end of the day today. The other one, Katia, is in the Gulf of Mexico, expected to reach the Mexican coast late today or early tomorrow.

Meanwhile, a magnitude-8 earthquake in Mexico that prompted a tsunami warning has shut down the Salina Cruz oil refinery. The measure was precautionary, President Enrique Pena Nieto said.

By Irina Slav for Oilprice.com

More Top Reads From Oilprice.com:




Back to homepage

Trending Discussions


Leave a comment
  • Tony Platts on September 08 2017 said:
    There are rumors going around that the shall boom is fabricated and the SPR is near empty, this is why they want to sell off half the reserves.

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News