Shut-Ins Begin Ahead of US Gulf Storm

Copyright © 2023 Energy Intelligence Group All rights reserved. Unauthorized access or electronic forwarding, even for internal use, is prohibited.

Energy companies on Thursday began airlifting workers from oil production platforms in the Gulf of Mexico and moved vessels from the path of an intense tropical storm that could become a hurricane by the weekend. The storm brewing in the Caribbean Sea is forecast to grind through the main oil-producing region of the Gulf. It could become a major hurricane ahead of landfall on the central Gulf Coast, the National Hurricane Center said. BP, BHP, Chevron, Equinor and Royal Dutch Shell have begun removing workers from offshore facilities, spokespeople said. BHP, Shell and Chevron are beginning with non-essential staff while Equinor said it is preparing to move workers off its Titan platform. BHP and BP said they have begun to shut in production at offshore platforms. Chevron said its production remained at normal levels on Thursday. Occidental Petroleum and Hess said they are monitoring weather conditions. US Gulf Coast gasoline prices rose in the past two sessions because of concerns around the storm, traders said. Gulf of Mexico offshore wells account for 17% of US crude oil production and 5% of dry natural gas production (OD Jul.30'21). Over 45% of total US refining capacity lies along the Gulf Coast. Exxon Mobil said it was preparing its 520,000 b/d Baton Rouge, Louisiana refinery for severe weather, but operations were normal on Thursday. Phillips 66 operations at refineries in Lake Charles and Alliance, Louisiana, "will be adjusted based on the storm's progression," spokesman Bernardo Fallas said. (Reuters)

Offshore Oil and Gas, Refining
Wanda Ad #2 (article footer)
Opec-plus' complex agreement aims to regain control of a market that has been driven recently by sentiment more than fundamentals.
Mon, Jun 5, 2023
Forecasts see stellar growth in oil consumption in the second half of the year, driven primarily by China.
Tue, Jun 6, 2023
Mexican regulators approved the joint field development plan for the offshore Zama field on Thursday, a major step forward for the promising oil find.
Thu, Jun 1, 2023