Chevron refinery in Mississippi production takes a hit

From CNN.com:

JACKSON, Miss. (AP)–Chevron Corp.’s (CVX) largest U.S. refinery is processing less crude oil than normal since a fire two weeks ago, but company officials say they are still meeting their customers’ demands.

The oil fire started Aug. 16 in a processing unit near the center of the Pascagoula plant, causing the evacuation of nonessential workers, according to company officials. The blaze sent a large plume of black smoke into the sky, but the fire was contained and extinguished within hours.

“Chevron is running less crude at the refinery due to the damage sustained to the No. 2 crude unit and working closely with its crude suppliers and expect some crude shipments may be canceled or rerouted to other refineries in the company’s global network,” Steve Renfroe, public and government affairs manager for Mississippi, said in a statement. “While the refinery is currently operating at reduced capacity, Chevron has covered its supply requirements and fully anticipates meeting all of its customer product commitments.”

The plant is one of the top 10 petroleum refineries in the United States, processing about 330,000 barrels a day. Daily production under normal conditions is about 5.5 million gallons of gasoline, jet fuel and diesel, according to the company’s Web site.

Just what we need… more refinery problems. In other news, I checked Midwest PADD numbers from last week and they tumbled again. Down another 1 million barrels to a low of 45 million barrels. Haven’t seen numbers this low since this spring when BP had refinery problems at Whiting and Toledo. This does NOT bode well for our local prices (will climb). More news later.

By the way, I’m still waiting for a reset before the holiday weekend to $3.09 again… will it happen, or will retailers lose money all weekend?

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