Friday September 1, 2016
In the latest edition of the Numbers Report, we’ll take a look at some of the most interesting figures put out this week in the energy sector. Each week we’ll dig into some data and provide a bit of explanation on what drives the numbers.
Let’s take a look.
1. Hurricane disrupts about 4 mb/d of refining capacity
(Click to enlarge)
- As has been widely reported, Hurricane Harvey has knocked a massive amount of refining capacity offline. By some estimates, the outages have topped 4 mb/d, or nearly a quarter of the U.S.’ total capacity.
- The Saudi-Motiva refinery in Port Arthur shut down completely on Wednesday, the largest refinery in the country. ExxonMobil’s Baytown refinery (560,500 bpd capacity) was also disrupted.
- The Corpus Christi area is recovering and Houston is also starting to see water levels fall. Port Arthur saw the worst of the floods mid-week, so will take more time.
- The following companies saw refining assets affected: ExxonMobil (NYSE: XOM), Citgo, Marathon Petroleum (NYSE: MPC), Valero Energy (NYSE: VLO), Phillips 66 (NYSE: PSX) Lyondell (NYSE: LYB), Total (NYSE: TOT), Royal Dutch Shell (NYSE: RDS.A), and Flint Hills.
- The good news is that at the time of this writing, several refineries were either coming back online or were beginning the process of coming back online.
- It is still unclear what amount of refining capacity will remain…