- Genesis Energy (GEL +0.3%) says its 380-mile Cameron Highway Oil Pipeline System will not be fully restored before Oct. 1, after Hurricane Laura and other storms tore through the Texas Gulf coast late last month.
- Crude oil shipped on the CHOPS is being rerouted and delivered into the Poseidon pipeline system or the Auger pipeline, the company says, adding that the pipeline itself was not damaged but a platform in the system was affected by the storms.
- "Based upon continuing data collection, analysis and physical tasks required to be undertaken, it would appear that CHOPS is unlikely to resume normal operations before Oct. 1," Genesis said earlier this week.
Genesis Energy Gulf of Mexico pipeline likely out until October
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|---|---|---|
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