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4-Traders Homepage  >  Equities  >  Nyse  >  Chevron Corporation    CVX

CHEVRON CORPORATION (CVX)
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PBF, Shell prep Louisiana refineries to keep running in storm - sources

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10/05/2017 | 08:11pm CET
Staff members work at the booth of Royal Dutch Shell at Gastech, the world's biggest expo for the gas industry, in Chiba

PBF Energy (>> PBF Energy Inc) and Royal Dutch Shell Plc were preparing their Louisiana refineries to keep running during Tropical Storm Nate, which is forecast to make landfall in the state on Sunday, sources familiar with plant operations said on Thursday.

PBF Energy (>> PBF Energy Inc) and Royal Dutch Shell Plc <RDSa.L> were preparing their Louisiana refineries to keep running during Tropical Storm Nate, which is forecast to make landfall in the state on Sunday, sources familiar with plant operations said on Thursday.

Preparations were under way at PBF's Chalmette, Louisiana, refinery and at Shell's Louisiana plants in Convent and Norco, the sources said.

PBF spokesman Michael Karlovich declined to discuss operations at the 190,000 barrel-per-day (bpd) Chalmette refinery on the east side of New Orleans.

Chevron Corp (>> Chevron Corporation) spokesman Braden Reddall said the company's 340,000 bpd Pascagoula, Mississippi, refinery was closely monitoring the storm's progress.

Shell spokesman Ray Fisher said the company's Gulf Coast refineries and chemical plants were monitoring the storm.

Sources at the company's 227,586 bpd Convent and 225,800 bpd Norco refineries, which are west of New Orleans, said early preparations to securing loose equipment within the refinery were under way.

Exxon spokeswoman Charlotte Huffaker said the company's 502,500 bpd Baton Rouge, Louisiana, refinery was monitoring the weather. Sources familiar with operations at the facility said it was not yet making preparations for Nate's possible arrival.

Operations at Phillips 66's (>> Phillips 66) 247,000 bpd Alliance, Louisiana, refinery have not been impacted by the weather, a spokeswoman said.

A spokesman for Marathon Petroleum Corp's (>> Marathon Petroleum Corp) 543,000 bpd Garyville, Louisiana, refinery declined to discuss operations at the plant.

Forecasts for Nate have shifted dramatically in the past 24 hours. The National Hurricane Center (NHC) had forecast on Wednesday that the storm would make landfall in the Florida panhandle on Sunday.

On Thursday, the NHC forecast Nate would cross the southern tip of Louisiana, formed by the southern end of the Mississippi River, before hitting the Mississippi coast on Sunday.

(Reporting by Erwin Seba; Editing by Bill Trott)

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Financials ($)
Sales 2017 137 B
EBIT 2017 11 431 M
Net income 2017 8 124 M
Debt 2017 34 173 M
Yield 2017 3,60%
P/E ratio 2017 27,51
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Average target price 125 $
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John S. Watson Chairman & Chief Executive Officer
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Joseph C. Geagea EVP-Technology, Projects & Services Divisions
Robert E. Denham Independent Director
Ronald D. Sugar Lead Independent Director
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