Tuesday, April 26, 2011

Blackout shuts down gasoline refineries

Texas refineries owned by BP, Valero and Marathon, are knocked offline by a blackout.
April 26, 2011: 3:42 PM ET
NEW YORK (CNNMoney) -- A blackout knocked out power to a BP refinery -- the third-largest gasoline refinery in the country -- as well as facilities operated by Marathon and Valero in Texas City, Texas on Tuesday. Spokesmen for Marathon Oil Corp. (MRO, Fortune 500) and Valero Energy Corp. (VLO, Fortune 500) said that power had been restored and the refineries are in the process of coming back online. Combined, the two refineries produce 290,000 barrels of gasoline a day. Valero spokesman Bill Day said the power went out at 6 a.m. ET time and was restored by 7:30 that morning. He said the refinery could take "several hours to a couple of days" to completely come back online.



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