Phillips 66 Shutting Sweeny Refinery Near Houston

Features Dow Jones Newswires

Phillips 66 (PSX) said it was shutting its 247,000-barrel-a-day Sweeny refinery near Houston due to possible flooding in the area and to keep employees safe.

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"We are continuously monitoring the progress of Tropical Storm Harvey and preparing for potential flooding over the next several days," the company said in a statement on its website. "To ensure the safety of our employees and due to expected flooding in Brazoria County, we have initiated a shutdown of our Sweeny Refinery in Old Ocean, Texas."

The Sweeny refinery is the latest of many refineries in the area to shut down as flooding continues to overwhelm the city of Houston.

Phillips 66 also said it would be providing as much fuel to the market as it can to meet demand, and urged gas stations not to unfairly hike prices, as possible fuel shortages loom due to refinery shutdowns.

"Phillips 66 does not determine the price charged at the pump," it said. "We are asking the owners of Phillips 66- and Conoco-branded gas stations to exercise good judgement in pricing gasoline and diesel and we have reminded them about laws that prohibit price gouging."

Write to Dan Molinski at dan.molinski@wsj.com

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(END) Dow Jones Newswires

August 27, 2017 15:21 ET (19:21 GMT)