Several of the Largest U.S. Refineries Were Shut on Friday

Fundamental News:  TC Energy Corp said it will start returning to service its Keystone Pipeline’s idled segment to Cushing, Oklahoma in the next several days after a U.S. regulator approved its restart plan. It said “our onsite activities will continue despite adverse weather, although colder temperatures may slow efforts due to impacts on some equipment.”

Several of the largest U.S. refineries were shut on Friday. More than 1 million bpd of refining capacity in the U.S. Gulf is shut due to freezing temperatures.

A power dip resulted in flaring at PBF’s 157,000 bpd Martinez refinery in California on Thursday. Operations were otherwise stable and the cause of the electrical disruption was under investigation.

Lyondell Basell Industries reported flaring at its 263,776 bpd Houston, Texas refinery. It shut down its 147,000 bpd 537 heavy oil crude distillation unit and the 634 and 637 cat feed hydrotreaters as a winter storm affecting much of the U.S. moved across the Gulf Coast. LyondellBasell said it was conducting detailed assessments stemming from Winter Storm Elliot. 

TotalEnergies shut two crude distillation units on Friday at its 238,000 bpd Port Arthur, Texas refinery. The refinery’s 150,000 bpd ACU-2 crude distillation unit and 40,000 bpd ACU-2 crude distillation unit were shut on Friday along with a 60,000 bpd coker unit.

Production at Motiva Enterprises’ 626,000 bpd Port Arthur, Texas refinery was shut down on Friday due to extreme cold weather.

Marathon Petroleum Corp’s 593,000 bpd Galveston Bay refinery in Texas City, Texas was shut down on Friday due to malfunctions caused by cold weather. About half of the refinery was shut as temperatures fell overnight. Units in the other half of the refinery were shut on Friday morning.

Valero reported flaring at its 205,000 bpd Houston, Texas refinery.

Pemex reported flaring at its 312,500 bpd Deer Park, Texas refinery due to cold weather-related issues.

Early Market Call – as of 8:40 AM EDT

WTI – February $80.08, up 52 cents

RBOB – January $2.3820, down 11 points

HO – January $3.3091, up 4.29 cents

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