Motiva, owned by Saudi Arabia state oil giant Saudi Aramco, can produce some 603,000 barrels a day, so that would mean about 350,000 barrels a day have been taken offline. The move brings the total amount of refining capacity offline to around 2.4 million barrels a day, well over 15% of total U.S. refining capacity. Earlier in the day, Motiva had said it cut rates to 60% capacity, but hours later revised that to 40%. In all, eight refineries are completely shut, including the nation’s second-largest refinery, Exxon Mobil Corp.’s Baytown near Houston. One of the shut refineries, Flint Hills Resources’ 296,000-barrel-a-day plant in Corpus Christi said it was hoping to begin a restart Tuesday as the storm moves away from that city, on a more eastward track.

Source: Wall Street Journal August 29, 2017 17:51 UTC