Winter Storm Forces Texas Oil Refineries to Close

Winter Storm Forces Texas Oil Refineries to Close

Winter Storm Forces Texas Oil Refineries to Close: According to individuals familiar with the refinery’s operations, Pemex’s 312,500 barrels per day (BPD) Deek Park refinery in Texas was shut down late last week due to the severe Winter Storm Elliott and most of its units were still closed late on Sunday.

Before the Christmas holiday weekend, a strong storm brought cold temperatures, snow, and slippery conditions to Canada and the United States. Thousands of flights were canceled, power outages in certain places, and Christmas travel plans were ruined.

The storm impacted nearly 250 million people in the U.S. and Canada in one way or another just before the Christmas holiday weekend, and at least 19 fatalities were associated with the icy blast and the harsh winter weather.

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All the states along the American Gulf Coast, home to most of the nation’s refining capacity, have been given hard-freeze warnings. According to estimates from Reuters, the Gulf Coast’s refining capacity was shut down as of Friday, December 23, to the tune of up to 1.5 million barrels per day.

Outside of Houston, Motiva Enterprises, Marathon Petroleum, and TotalEnergies refineries shut down before last week’s end. The strong winter storm also affected operations at refineries run by ExxonMobil, Valero Energy, and LyondellBasell in Texas. According to Reuters, refinery outages were not anticipated to last very long.

As the storm neared, fuel costs increased late last week, momentarily reversing the recent fall in U.S. gasoline prices. However, the fuel savings app GasBuddy reported an unexpected decrease in the average U.S. gasoline price on Christmas Day.

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The national average is shockingly lower at $3.048 per gallon after rising a few days ago! There still seems to be a chance for the national average to fall below $3 per gallon! GasBuddy’s Patrick De Haan, who oversees petroleum analysis, tweeted on Sunday.