Chevron closes Tampa terminal as Hurricane Milton approaches

Chevron Corp. (NYSE:CVX) has closed its bulk terminal in Tampa as Hurricane Milton barrels toward the U.S. coastline. The hurricane is expected to double its wind field by the time it makes landfall in the U.S. early Thursday, bringing a storm surge of up to 15 feet along the Florida coast, including the cities of Tampa, St. Petersburg and Sarasota. Described as the “storm of a century,” Milton pivoted overnight about 300 miles (480 km) southwest of Tampa, targeting densely populated and highly vulnerable communities. After landfall, the hurricane is expected to weaken slightly to a Category 4 with sustained winds of approximately 130 mph.

“Milton has the potential to become one of the most destructive hurricanes ever to hit west-central Florida.the National Hurricane Center warned.

Dozens of energy companies have begun closing their pipelines and fuel delivery terminals in Tampa, Florida, with gas stations run out of fuel. Kinder Morgan (NYSE:KMI) has closed its Central Florida Pipeline system, two small lines that carry gasoline, diesel and other fuels from Tampa to Orlando. The giant pipeline operator also closed all bulk fuel delivery terminals in the Tampa area.

“While the Tampa terminal is closed, our truck racks in Orlando are expected to remain operational until winds exceed 56 miles per hour.Kinder Morgan announced.

Citgo Petroleum Corporation also closed its terminal in Tampa, while Buckeye said it has suspended operations at its terminal facilities in Tampa.

Current forecasts say the wave is expected to hit Fort Myers Beach, an area devastated two years ago by Hurricane Ian, which destroyed a causeway to remote islands. Hurricane Helene hit the same area two weeks ago, raising concerns that an assortment of debris, including discarded furniture and appliances from that storm, will become projectiles in the next storm. Florida Governor Ron DeSantis revealed that the state deployed more than 300 dump trucks that removed 1,300 loads of debris. One resident reported seeing bull sharks swimming in the flooded streets after Helene landed.

By Alex Kimani for Oilprice.com

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