United States
Energy Information Administration
December 16, 1999
Y2K-Related Planned Changes to Oil Industry Operations
The following provides a summary of planned Y2K-related operational changes for each segment of the oil industry. Generally, the logistics side of the industry has the greatest flexibility to shift operations briefly without impact on consumers.
Crude Oil Production. EIA is not aware of any plans to halt or reduce crude oil production in the United States during the Y2K rollover.
Pipelines. A number of U.S. oil pipeline companies are planning to reduce or stop operations just before midnight and restart several hours into the new year. Because of the availability of storage both at the source and terminus of the pipelines, the operational changes will not have a significant impact on the delivery of product to consumers.
Ports. According to the Coast Guard, all U.S. ports will be operating during the Y2K rollover, though there may be some instances where the actual discharge of oil may be stopped as midnight approaches. In addition, vessels that are not Y2K compliant may be kept from entering the ports during the rollover.
Like U.S. ports, international ports are expected to be operational, with some transfers stopped during the date change. For example, the United Kingdom, Saudi Arabia, and Venezuela all have announced brief suspensions of oil loadings at various ports during the rollover. In addition, navigation though narrow straits could be slowed or stopped. Turkey is reported to be planning to restrict traffic through the Bosporus for 12 hours during the changeover.
Refineries. EIA is not aware of any planned Y2K-related refinery-wide shutdowns.
Terminals. EIA is not aware of any plans to halt or reduce terminal operations during the Y2K rollover.
Gasoline Stations. Typically, 15% of U.S. gasoline stations are closed on New Year's Day. Aside from these stations, EIA is not aware of any extensive plans to close company-owned or independent gasoline stations for Y2K.
Chemical Plants. Some chemical companies intend to idle certain operations during the rollover, thereby possibly reducing the need for petrochemical feedstocks.
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