Cyber Monday Deal: Up to 60% off InvestingProCLAIM SALE

UPDATE 1-U.S. refiner Motiva warns of fuel supply crunch after Harvey -source

Published 2017-09-01, 08:18 p/m
© Reuters.  UPDATE 1-U.S. refiner Motiva warns of fuel supply crunch after Harvey -source
ATDb
-

(Adds comment from Circle K)

NEW YORK, Sept 1 (Reuters) - Refiner Motiva has warned customers along the route of the largest U.S. fuel pipeline to prepare for shortages after Hurricane Harvey shut refineries and cut supply to the line, said a source at a fuel distributor supplied by Motiva.

Motiva did not immediately respond to a request for comment.

Harvey shut refineries that can process up to 4.4 million barrels per day (bpd) of crude. The plants shut down include Motiva's 603,000 bpd facility in Port Arthur, Texas, the largest refinery in the country.

The reduction in fuel supplies has forced the Colonial Pipeline, which supplies fuel from refineries near the Gulf of Mexico to the U.S. Northeast, to reduce supplies. Motiva warned customers near the areas supplied by the pipeline to brace for shortages, the source said.

Convenience store and gas station chain Circle K, a big buyer from Motiva, said the company was working with a limited supply.

"Circle K is continually assessing the fuel situation... is working hard to get our fuel supply to full capacity and to all our stores as soon as possible," a company spokesperson said.

Alimentation Couche Tard Inc ATDb.TO is the operator of Circle K stores

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.