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Huge explosion, fire rip Philadelphia Energy Solutions refinery

  • U.S. gasoline prices move higher following an explosion and massive fire at the Philadelphia Energy Solutions refinery, the largest gas refinery on the east coast.
  • There are no known casualties at the complex, which employs ~1,000 people.
  • The crude section at the Girard Point portion of the 335K bbl/day refinery reportedly was shut down due to the fire.
  • A fire broke out on June 10 at the same refinery, which is believed to have affected a 50K bbl/day catalytic cracking unit.
  • Philadelphia Energy Solutions was formed in 2012 through a partnership between the Carlyle Group (NASDAQ:CG) and Energy Transfer (NYSE:ET) subsidiary Sunoco Inc.
  • ETFs: UNG, UGAZ, DGAZ, BOIL, UGA, KOLD, UNL, GAZB

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