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FxWirePro: Refinery updates from Harvey battered Gulf Coast

Though Hurricane Harvey passed away from Texas and Gulf Coast by the end of last week, the devastation caused by the most powerful Hurricane to hit the United States in 50 years still continues to be felt. Harvey jolted not only the United States but global energy market as at the peak of the storm U.S. refining capacity in the tune of 4.9 million barrels per day was down. Some of the refineries have once again begun operation, some are still working to return to full capacity, while others are still shut. Here is the full refinery report from battered Gulf Coast as of September 5th,

  • Fully operational – Two Valero refineries; one in Texas City and one in Corpus Christie are fully operational, which have a combined capacity of 0.518 million barrels per day.
  • Partially operational – Three Valero refineries; One in Houston, One in Three Rivers, and one in Port Arthur are operating at a reduced pace. They have a combined capacity of 0.524 million barrels per day. Two Marathon refineries; one in Texas City, and one in Galveston Bay are operating at a reduced pace. They have a combined capacity of 0.535 million barrels per day.  Big refinery run by Exxon Mobil in Baytown with a capacity of 0.561 million barrels per day is operating at a reduced pace. Houston refining with a capacity of 0.264 million bpd is operating at a reduced pace. Citgo refinery in Corpus Christi with a capacity of 0.158 million barrels per day is operating at a reduced pace. FlinHills refinery in Corpus Christi with a capacity of 0.290 million barrels per day is operating at a reduced pace. The total capacity of partially running refineries stands at 2.33 million barrels per day.
  • Nine refineries in the region are still closed with a combined capacity of 1.7 million barrels per day

As many refineries remain shut, and many are still not fully operational the spread between Brent and WTI benchmark have eased but still at elevated levels. WTI is currently trading at $48.9 per barrel and Brent at $4.9 per barrel premium.

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