ConocoPhillips Shuts New Jersey Refinery
CNBC Senior Commodities Correspondent & Personal Finance Correspondent
ConocoPhillips has shut down its 238,000 barrel-per-day Bayway refinery in Linden, N.J., as a precaution ahead of Hurricane Irene. The company also says its terminals are shutting down until it is safe to resume operations.
As a matter of company policy, ConocoPhillips does not discuss day-to-day fluctuations in refinery production. However, Energy News Today is reporting the Bayway refinery's 145,000 barrel per day "catcracker," a gasoline-making unit, and part of the crude unit have halted operation. As of 6 p.m. ET, Conoco's 185,000 barrel per day refinery in Trainer, Pa., is still operating.
Other East Coast oil refineries, which together handle nearly 7 percent of the nation's refining capacity for gasoline, diesel fuel and other products, appear ready and willing to operate through the storm—at least for now.
But sources familiar with refinery operations say processing rates were cut ahead of the storm at Sunoco's East Coast refineries.
Sunoco said its refineries in Philadelphia and Marcus Hook, Pa., continued to operate as normal despite some unit outages during the past week.
Two units at its 330,000 barrel per day Philadelphia refinery shut down earlier this week due to a fire. Refining capacity at Marcus Hook is 175,000 barrels per day.
A spokeswoman for Hess, which operates a 70,000 barrel per day refinery in Port Reading, N.J., says it will operate through the storm at a reduced rate starting this evening.
PBF Energy said its two Northeastern U.S. refineries were operating at planned rates ahead of Hurricane Irene, according to Reuters.
The privately held PBF owns a 190,000 barrel per day refinery in Delaware City, Del., and a 185,000 barrels per day refinery in Paulsboro, New Jersey.
Both are near the Port of Philadelphia, which has declared Port Condition Yankee, which means gale force winds are expected in 24 hours.
Sources familiar with operations say the Colonial Pipeline, the nation's largest refined fuels pipeline transporting 2.3 million barrels a day, is so far operating normally during the hurricane.
The main Colonial pipeline, delivering fuel from Gulf Coast refiners to the New York Harbor area, is continuing to operations during the hurricane.
However, a smaller "stub line" running from Richmond to Norfolk has closed due to power outages.
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