Power outages in the Houston area caused Colonial to pre-emptively shut down its main gasoline and distillate fuel lines, the company said in a notice to shippers after Nicholas made landfall.
Coal demand will fall 62% by 2050 but the energy transition is moving too slowly to achieve the goal of slowing global warming sufficiently, DNV forecasts.
The East Coast has been drawing down inventories all summer after demand for products in Europe began to rise, limiting imports.
Ida made landfall on Aug. 29 near Port Fourchon, the land base for the Louisiana Offshore Oil Port (LOOP), the largest privately-owned crude terminal in the U.S.
Japan's top health adviser has requested for stricter COVID-19 curbs to control the contagion, which he said should be treated as a natural disaster.
The largest crude oil refiner in the U.S., Marathon Petroleum, shut three refineries while energy major Royal Dutch Shell and independent refiner HollyFrontier each shut one in 2020.
Operated by Shell, the Deer Park complex in Texas includes a petrochemical complex and it also refines crude from Africa, South America and the United States.
The refinery shutdowns will depress prices for U.S. crude oil and widen the spread between U.S. and Brent crude, Paul Sankey of independent energy researcher Sankey Research said.
The team said it was also in the process of meeting with members of President Joe Biden’s administration to brief them on the benefits of the proposed petrochemical plant in Ohio that will turn ethane into plastics.
It will take a while for the energy sector to get to its new ‘normal,’ says the EIA Acting Administrator in the U.S. agency’s annual outlook clouded by the COVID-19 pandemic.