Fourteen refineries which shut ahead of the storm remained down, representing some 3.817 million b/d of refining capacity, or about 22% of total US refining capacity, while power outages were wide, spreading as far north as Illinois. Utilities said it could take three to four weeks for a complete return, according to Platts.
The MMS also said 6.801 Bcf/d of gas output was down, 91.9% of normal production of 7.4 Bcf.
A handful of refinery operators over the weekend said they were beginning to gauge damage, adding that it was too soon to predict when the facilities could be back online, Platts reported.
- People moves: SocGen adds in prime services, Deutsche fills new rates hole, HSBC makes model move, and more
- Quant Finance Master’s Guide 2019
- Credit risk quants are hitting the tech gap
- Princeton tops inaugural Risk.net quant master’s ranking
- Does credit risk need an expected shortfall-style revamp?