• 3 minutes Could Venezuela become a net oil importer?
  • 7 minutes Reuters: OPEC Ministers Agree In Principle On 1 Million Barrels Per Day Nominal Output Increase
  • 12 minutes Battle for Oil Port: East Libya Forces In Full Control At Ras Lanuf
  • 24 hours Could Venezuela become a net oil importer?
  • 22 mins Oil prices going Up? NO!
  • 2 hours Reuters: OPEC Ministers Agree In Principle On 1 Million Barrels Per Day Nominal Output Increase
  • 1 day Tesla Closing a Dozen Solar Facilities in Nine States
  • 7 mins Could oil demand collapse rapidly? Yup, sure could.
  • 23 hours Gazprom Exports to EU Hit Record
  • 1 day EU Leaders Set To Prolong Russia Sanctions Again
  • 1 day Why is permian oil "locked in" when refineries abound?
  • 23 hours Oil Buyers Club
  • 17 hours Oil prices going down
  • 11 mins Renewables to generate 50% of worldwide electricity by 2050 (BNEF report)
  • 1 day EVs Could Help Coal Demand
  • 1 day China’s Plastic Waste Ban Will Leave 111 Million Tons of Trash With Nowhere To Go
  • 1 day Saudi Arabia plans to physically cut off Qatar by moat, nuclear waste and military base
  • 15 hours Russia's Energy Minister says Oil Prices Balanced at $75, so Wants to Increase OPEC + Russia Oil by 1.5 mbpd
  • 10 hours Battle for Oil Port: East Libya Forces In Full Control At Ras Lanuf
Cashing In On The Coming $10 Trillion Crypto Boom

Cashing In On The Coming $10 Trillion Crypto Boom

Perhaps the fastest-growing niche in…

Why OPEC Won't Flood The Oil Market

Why OPEC Won't Flood The Oil Market

Saudi Arabia and Russia are…

Shell To Restart Major Oil Refinery

Shell

Shell is set to restart its 325,700-bpd Deer Park refinery in Texas, after shutting it down for three weeks during and after Hurricane Harvey’s sweep of the U.S. Gulf Coast. By noon on Sunday, the refinery’s biggest crude oil distillation unit, with a capacity of 270,000 bpd, was up and running again. The rest of the units are being restarted currently.

The biggest unit, DU 2, is crucial for the operation of the refinery along with DU 1, which has a capacity of 70,000 bpd, because this is where crude petroleum is initially refined and then fed into the other units of the facility. DU 2 was shut down before Harvey due to a fire that occurred on August 17.

The Deer Park facility is a 50/50 joint venture between Shell and Pemex. The Mexican state company recently had to shut down its biggest refinery in Mexico, Salina Cruz, after a magnitude-8 earthquake shook the country’s southern parts. According to reports from last weeks, it would take between three and four weeks to bring Salina Cruz back online.

Harvey shut down almost a quarter of the production capacity in the U.S. section of the Gulf of Mexico, as well as more than a fifth of the country’s refining capacity.

The news will most likely provide additional support for crude oil prices, which have been enjoying the resumption of demand growth after Harvey in the last week or so. Additional upward pressure came from EIA’s latest International Energy Outlook 2017 report, which forecast a 28-percent increase in global energy consumption in the period to 2040, with crude oil demand growing at a healthy rate despite an overall decline in its share of global consumption from 33 percent in 2015 to 31 percent in 2040.

By Irina Slav for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment

Leave a comment

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