Phillips 66 reduces gasoline output at Bayway refinery after fire, sources say

NEW YORK (Reuters) -Phillips 66 has reduced gasoline output at its 258,000 barrels-per-day Bayway refinery in Linden, New Jersey, after a fire near the plant’s gasoline producing unit, two people familiar with the matter said on Thursday.

An ancillary piece of equipment of the refinery’s fluid catalytic cracking unit caught fire and led to the production outage, the sources said. The cause of the fire was not immediately clear.

The refinery is expected to resolve the issue over the coming days and return to full production, one of the sources said.

Phillips 66 declined to comment on refinery operations.

Bayway produces around 155,000 bpd of gasoline and is one of the largest suppliers of fuel on the U.S. East Coast.

The Bayway refinery was partially shut last month after rainstorms caused a power outage at the plant, resulting in a brief spike in prices for refined products at the New York Harbor as Phillips 66 made up for the outages by buying fuel on the open market.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads.Should you invest $2,000 in PSX right now?

Before you buy stock in PSX, consider this: ProPicks AI are 6 easy-to-follow model portfolios created by Investing.com for building wealth by identifying winning stocks and letting them run. Over 150,000 paying members trust ProPicks to find new stocks to buy – driven by AI. The ProPicks AI algorithm has just identified the best stocks for investors to buy now. The stocks that made the cut could produce enormous returns in the coming years. Is PSX one of them?

Reveal Undervalued Stocks Now