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Several Major U.S. Oil Refineries Shut Down Amid Historic Texas Freeze​

Gina HeebForbes Staff
Business

TOPLINE​


Some of the largest oil refineries in the U.S. were forced to shut down Monday as a historic Arctic freeze upended energy markets and led to widespread power blackouts across Texas.

KEY FACTS​

The largest oil refinery in the country, Motiva Enterprises, said freezing temperatures were behind the decision to “safely and methodically” pause operations in Port Arthur, Texas.

“We are carefully monitoring weather conditions and will resume normal operations as soon as it is safe to do so,” the company, which has a crude oil capacity of more than a half a million barrels per day, said in a statement to Forbes.

Citgo Petroleum said it also shut down “some units” at its Corpus Christi, Texas, refinery because of “third party interruptions” caused by the weather.
The shutdowns came as snow, ice and a record drop in temperatures froze wind turbines and caused power outages across Texas.

With mounting concerns that the storms could curb production, the severe weather has pushed oil prices to fresh highs over the past week.
 
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