Business: Texas freeze impacts oil deliveries
Occidental Petroleum says it is curtailing oil deliveries from the Permian Basin region due to complications from the historic Texas freeze, in the first force majeure among the area’s major oil producers.
The company also expects curtailments of shipments downstream because of limited deliveries into Midland, Houston and Corpus Christi.
The number of passengers carried by U.S. airlines in December was down 62% compared with 2019. That figure was slightly larger than the decline reported in November.
Some container lines and their importing customers are looking for alternate paths to get around bottlenecks at the main U.S. trade gateways in Southern California, where an armada of cargo vessels is anchored offshore at the congested seaports. Shipping lines have started moving some operations to smaller ports and have canceled some sailings altogether to avoid the backups that have tied up dozens of ships and hundreds of thousands of containers stuffed with goods off the ports of Los Angeles and Long Beach.