Energy In-depth: EIA Tracks Hurricane Joaquin ‘Energy Disruptions’ In Real Time
by October 2, 2015 9:46 am 118 views
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EIA TRACKS HURRICANE JOAQUIN ‘ENERGY DISRUPTIONS’ IN REAL TIME: The U.S. Energy Information Administration has set up a real-time storm information portal that will track and report on Hurricane Joaquin and other storms that could impact or potentially disrupt the nation’s energy infrastructure.
Although Hurricane Joaquin is not expected to cut a swath through the Gulf of Mexico, home to nearly 20% of the nation’s crude oil production, it could affect energy demand and shut down coastal refineries and pipelines along the East Coast.
To track the path of the hurricane in real-time on the EIA’s “energy disruptions” website, click here.
EXXONMOBIL SELLS SPRAWLING WEST COAST REFINERY FOR $537 MILLION: ExxonMobil has reached an agreement with PBF Energy Inc. to sell its 750-acre refinery complex in Torrance, Calif., for more than $537.5 million, along with the oil giant’s lubricants distribution center, products terminals and associated California pipelines and other logistics assets.
Approximately 700 employees and 700 contractors work at the refinery and associated facilities. Employees are expected to be offered positions with PBF and existing third-party supply agreements, obligations, terms and conditions remain unchanged. The 150,000 barrel a day Torrance refinery, the third largest on the West Coast, has been shut down since February when an earthquake-like explosion disrupted the nation’s fuel market for several weeks.
ExxonMobil said it is retaining a presence in California through ongoing production of oil and natural gas and sales of fuels and lubricant products. Exxon- and Mobil-branded retail sites in the state are unaffected by the agreement.
ROYAL DUTCH SHELL ABANDONS ALASKA OPERATIONS, CITES HIGH COSTS AND U.S. REGULATIONS: Although Royal Dutch Shell said it has found a major oil basic in offshore Alaska equivalent to half the size of the Gulf of Mexico, the Anglo-Dutch oil giant said it plans to seal and abandon its Burger J well approximately 150 mills from Barrow.
“The Shell Alaska team has operated safely and exceptionally well in every aspect of this year’s exploration program,” said Marvin Odum, Director, Shell Upstream Americas. “Shell continues to see important exploration potential in the basin, and the area is likely to ultimately be of strategic importance to Alaska and the U.S. However, this is a clearly disappointing exploration outcome for this part of the basin.”
Shell said it will now cease further exploration activity in offshore Alaska for the foreseeable future. This decision reflects both the Burger J well result, the high costs associated with the project, and the challenging and unpredictable federal regulatory environment in offshore Alaska.