Most Louisiana refineries running as storm cuts 70% of offshore oil [Reuters]
Exxon Mobil Corporation (XOM)
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Source: Reuters
Most Louisiana refineries running as storm cuts 70% of offshore oil HOUSTON (Reuters) - Tropical Storm Barry slowly moved on to the Louisiana coast and quickly weakened from hurricane strength on Saturday afternoon, leaving in its wake 70 percent of U.S. Gulf of Mexico oil production shut in, the U.S. government said. One refinery was taken out of production on Friday due to the threat of flooding, while seven others in southeastern Louisiana remain in operation on Saturday, the companies and sources familiar with plant operations said. The Louisiana Offshore Oil Port, the only U.S. location loading and offloading giant oil tankers, was operating normally on Saturday, a spokesman said. Barry reached hurricane strength on Saturday morning before coming ashore near Intracoastal City, Louisiana, at about 1 p.m. CDT (1800 GMT) and quickly weakened with maximum sustained winds of 70 miles per hour (115 km per hour). The one shut refinery, Phillips 66’s ( PSX.N “Utilities at the facility re
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- Crude awakening: oil price rallies against backdrop of energy company earnings this week [BNN Bloomberg (Canada)]BNN Bloomberg
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