• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 2 days GREEN NEW DEAL = BLIZZARD OF LIES
  • 4 days "What’s In Store For Europe In 2023?" By the CIA (aka RFE/RL as a ruse to deceive readers)
  • 2 days Even Shell Agrees with Climate Change!
  • 8 days America should go after China but it should be done in a wise way.
  • 4 days How Far Have We Really Gotten With Alternative Energy
  • 5 days The European Union is exceptional in its political divide. Examples are apparent in Hungary, Slovakia, Sweden, Netherlands, Belarus, Ireland, etc.
  • 4 days World could get rid of Putin and Russia but nobody is bold enough
  • 7 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in

A New Storm Is Barreling Towards Texas Oil Terminals

A storm developing in the southwestern Gulf of Mexico could become the next hurricane to wreak havoc on Gulf Coast oil facilities.

Per a report by Argus, the system could evolve into a hurricane before it makes landfall, which is forecast to happen near Corpus Christi—a major Gulf Coast oil hub and home to the largest U.S. oil export terminal, which Canadian Enbridge recently bought.

The report said the U.S. Coast Guard had set Corpus Christi to condition X-RAY, which means sustained gale force winds of speeds between 39 and 54 miles per hour are expected to make landfall within 48 hours.

Per regulations, when a condition X-RAY is issued, port authorities must prepare for the storm landfall by, among other things, ordering slow-moving vessels such as oil tankers to depart if this is deemed necessary to avoid damage.

In addition to an export hub, however, Corpus Christi is also home to several refineries, including a 157,500-bpd facility operated by Citgo, a 200,000-bpd Valero refinery, and a 260,000-bpd facility operated by Flint Hills Resources.

The storm, dubbed Nicholas, is moving north, and Texas and Louisiana are both preparing for heavy rains and the possibility of floods.

Related: Why Bitcoin Miners Are Setting Up Shop In Texas Oilfields

"This is a storm that could leave heavy rain, as well as wind and probably flooding, in various different regions along the Gulf Coast. We urge you to listen to local weather alerts, heed local warnings," Texas Governor Greg Abbott said.

"The most severe threat to Louisiana is in the southwest portion of the state, where recovery from Hurricane Laura and the May flooding is ongoing. In this area heavy rain and flash flooding are possible. However, it is also likely that all of south Louisiana will see heavy rain this week, including areas recently affected by Hurricane Ida," Louisiana Governor John Bel Edwards said.

ADVERTISEMENT

Hurricane Ida shut in more than 90 percent of U.S. Gulf of Mexico oil production earlier this month, and much of it still remains offline. Refineries also had to shut down and have only recently begun restoring operations.

By Michael Kern for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment
  • George Doolittle on September 13 2021 said:
    Long $clr Continental Energy
    Strong buy

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News