• 4 minutes Oil Price Could Fall To $30 If Global Deal Not Extended
  • 7 minutes Middle East on brink: Oil tankers attacked off Oman
  • 11 minutes CNN:America's oil boom will break more records this year. OPEC is stuck in retreat
  • 14 minutes The Latest: Iranian FM Says US Cannot Expect To ‘Stay Safe’
  • 29 mins The Pope: "Climate change ... doomsday predictions can no longer be met with irony or disdain."
  • 7 hours Coal Boom in Asia is Real and a Long Trend
  • 3 hours The Plastics Problem
  • 14 hours Hydrogen FTW... Some Day
  • 1 hour Solar Panels at 26 cents per watt
  • 1 day China's President Xi To Visit North Korea This Week
  • 1 day OPEC, GEO-POLITICS & OIL SUPPLY & PRICES
  • 17 hours GM Considering Electric Hummer
  • 4 hours The Magic and Wonders of US Shale Supply: Keeping energy price shock minimised: US oil supply keeping lid on prices despite global risks: IEA chief
  • 13 hours As Iran Nuclear Deal Flounders, France Turns To Saudi For Oil
  • 4 hours Why Is America (Texas) Burning Millions of Dollars Per Day Of Natural Gas?
  • 1 day Forbes: Giant Floating Solar Farms Could Extract CO2 From Seawater, Producing Methanol Fuel.
  • 1 day Fareed Zakaria: Canary in the Coal Mine (U.S. Dollar Hegemony)
  • 1 day Hormuz and surrounding waters: Energy Threats to the World: Oil, LNG, shipping markets digest new risks after Strait of Hormuz attack

Breaking News:

Oil Stabilizes On Small Crude Draw

Alt Text

Canada’s Oil Patch Faces Investor Exodus

Capital investment across Canada’s oil…

Alt Text

BP: Petrochemicals Drive U.S. Oil Demand Boom

The United States saw its…

Irina Slav

Irina Slav

Irina is a writer for Oilprice.com with over a decade of experience writing on the oil and gas industry.

More Info

Trending Discussions

Hurricane Irma Prompts Oil Storage, Port Shutdowns

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:




Download The Free Oilprice App Today

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