Phillips 66, PBF among refiners reducing production due to Sandy

Refiners including Phillips 66 and PBF Energy Inc. are today reducing output at U.S. East Coast plants in anticipation of the arrival of Hurricane Sandy, which may become the worst storm to hit the region in 100 years. Bloomberg reports Phillips shut its 238,000–barrel-a-day Bayway refinery in New Jersey early today. Hess Corp. will complete the shutdown of its Port Reading plant in New Jersey this afternoon. NuStar Energy shut its Paulsboro asphalt refinery. Philadelphia Energy Solutions’ Philadelphia plant and PBF’s Delaware City, Del., and Paulsboro, N.J., refineries are operating at reduced rates, the companies say. New York, New Jersey and Delaware Bay ports were closed to vessel traffic by the U.S. Coast Guard, halting tanker deliveries that help supply the region’s refineries with crude oil. There are seven plants in the area with a combined capacity of about 1.29 million barrels a day, according to data compiled by Bloomberg. Sandy is also causing major disruptions to the airline industry, with thousands of flights in the U.S. northeast canceled. It’s upending travel plans across the globe, stranding passengers from Hong Kong to Europe. The massive storm threatens to bring a near halt to air travel for at least two days in a key region for both domestic and international flights. Read that full story here.