Following a report that Motiva Enterprises [MOTIV.UL] was preparing on Tuesday afternoon to shut the largest U.S. refinery because of flooding in its Port Arthur, Texas, plant, the company released a statement saying it was still operating but at a diminished capacity.

Motiva has been reducing production at the 603,000 barrel per day (bpd) Port Arthur, Texas, refinery as Tropical Storm Harvey continued to inundate the Port Arthur area.

The refinery is stable and now operating at about 40% of its normal capacity according to the statement.

Motiva released a statement...

"Although weather conditions continue to deteriorate, Motiva’s Port Arthur Refinery remains stable at reduced rates approximately equal to 40% of capacity.

Our highest priority remains the safety of our employees and community."