XOM - Texas Gulf Coast refineries terminals brace for tropical storm hit

Tropical Storm Nicholas is slamming the Texas Gulf Coast with heavy rain, storm surge and strong winds, threatening crude export terminals and refineries in Corpus Christi, the top hub for exporting U.S. crude oil and home to three large refineries. Argus reports Moda Midstream shut crude loadings at its export terminal at Ingleside, where Moda's terminal has 15.6M barrels of storage capacity and can export 1.5M bbl/day of crude oil. NuStar Energy (NYSE:NS) says it is monitoring the storm but does not plan to shut its North Beach oil terminal in Corpus Christi or any pipeline operations. Magellan Midstream Partners (NYSE:MMP), which owns a terminal and condensate splitter in Corpus Christi, says its assets in the area are operating normally. Citgo, operator of a 157K bbl/day refinery in Corpus Christi, says it is closely monitoring the storm. The other two large refineries in the Corpus Christi area are Valero's (NYSE:VLO)

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Texas Gulf Coast refineries, terminals brace for tropical storm hit