Texas Energy Sector Starts Recovery After Hurricane Beryl 🌪️

Energy companies in Texas are beginning the recovery process after Hurricane Beryl made landfall earlier this week. The hurricane, which at one point was the earliest Category 5 storm on record, had weakened to a Category 1 by the time it struck the U.S. Gulf Coast in Texas. Here are the key updates: Natural Gas Flows: Ahead of Hurricane Beryl, natural gas flows to Freeport LNG's export plant in Texas fell close to zero on Sunday. This disruption was part of a broader precautionary measure by energy firms in anticipation of the storm. Power Outages: On Monday, two million Texans were left without power as Beryl made landfall near Houston. CenterPoint Energy, a major power provider, reported that the hurricane "delivered a powerful blow" across its service area. The company expects to restore power to 1 million customers by the end of Wednesday, July 10. Ports: The U.S. Gulf Coast ports, crucial for oil and LNG exports, experienced varying impacts. The Port of Corpus Christi announced it would reopen for normal operations on Tuesday after impact assessments showed no significant damage. The Port of Houston, however, remains closed for the time being. Port authorities are continuing damage assessments and repairs, with an update on Wednesday's operations expected by 4 PM CT. Refineries: Phillips 66 reported no operational impacts at its refineries. The Lake Charles, Louisiana, and Sweeny, Texas, refineries are functioning normally and have power. In contrast, Citgo Petroleum temporarily reduced fuel output at its 165,000-barrel-per-day Corpus Christi refinery over the weekend in response to the hurricane.