Recovery and start-up plans are in full swing at most refineries in the U.S. Gulf Coast following the hurricanes that ripped through just over two weeks ago. With supply pinched, spot base oil prices are feeling upward pressure, and completed deals are rare.
According to an update issued by the U.S. Department of Energy on Monday, Sept. 29, many refineries along the Texas/Louisiana coast are either still shut down, running at reduced rates or in restart mode. According to DOE, the ExxonMobil refinery in Beaumont, Texas, is still shut down, while ExxonMobils facility in Baytown, Texas, is running at reduced rates. The ConocoPhillips Westlake, La., refinery, home of Group II refiner Excel Paralubes, is also operating at reduced rates.