Harvey Grows to Major Hurricane Strength as Refineries Shut

26 Aug 2017   Oil Supply, Prices

Exxon, Anadarko, Shell among energy explorers cutting output It’s the first major hurricane to hit U.S. since 2005’s Wilma Hurricane Harvey will be the most powerful storm since 2008 to strike the heart of America’s energy sector, with winds reaching 120 miles per hour as it bears down on the south Texas coastline. Hurricane Harvey strengthened to a Category 3 hurricane, the National Hurricane Center said in an advisory posted around 2 p.m. local time Friday. The storm is menacing Texas’s Gulf Coast, home to as much as half of the nation’s oil refining capacity and a massive network of pipelines that carry oil and gas to the rest of the country. Tanker trucks enter a refinery ahead of Hurricane Harvey in Texas City, on Aug. 25. Harvey, the strongest storm to hit the U.S. since Wilma in 2005, is forecast to inundate Houston, Corpus Christi and Galveston, cities […]

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