Statoil's Bahamas Oil Terminal to Shut ahead of Irma

Norway's state-run oil company Statoil began making preparations on Thursday to shut its South Riding Point storage and transshipment terminal in the Bahamas ahead of Hurricane Irma, traders close to the facility told Reuters.

 

South Riding Point in Grand Bahama has the capacity to store up to 6.75 million barrels of oil.

 

A neighboring terminal in the Bahamas, Buckeye Partners' BORCO, was also expected to halt all operations on Thursday, the company said.


(Reporting by Marianna Parraga)