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Winter Storm Update

Winter Storm Uri Update: US Oil and Gas Production All but Recovered While Refining and Petrochemicals Sectors Remain a “Mixed Bag” in Return to Normalcy

Winter Storm Uri Update: US Oil and Gas Production All but Recovered While Refining and Petrochemicals Sectors Remain a ‘Mixed Bag’ in Return to Normalcy

March 12, 2021

IHS Markit, (NYSE: INFO), a world leader in critical information, analytics and solutions is providing periodic updates on the state of U.S. crude, refining and chemical operations following the impacts of Winter Storm Uri.

To request a media copy of the full report (including detailed sector-by-sector updates) or to speak with an IHS Markit expert, contact: Jeff Marn / jeff.marn@ihsmarkit.com or email press@ihsmarkit.com

A summary of the key conclusions follows here:

‘While U.S. crude production has mostly returned to normal, refining and petrochemical facilities are still more of a mixed bag in terms of recovery. The coming days should see significant progress but a return to pre-storm levels across all sectors is unlikely until the second half of March. The worst of the storm is definitely behind us, but we are still in the middle act when it comes to a holistic recovery.’ – Bill Hyde, executive director, IHS Markit

Chemicals

Total petrochemical production is on track to begin approaching normal around mid-March, though some units will take longer. Nitrogen remains a limitation to an efficient startup with some facilities having to prioritize restarts based on limited supply. The overall nitrogen supply infrastructure does not appear to have been designed to handle the extraordinary event of starting up most of the Texas plants at the same time. This week should see significant progress in restarting production capacity.

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