• 13 hours Getting out of oil .. now
  • 11 hours Too much or doable - $900 Billion Annual Investments Needed In Renewables By 2030
  • 16 hours Surprise! Aramco Scraps International Listing Plans
  • 13 hours U.S. Arrests Iranian Over Alleged $115 Million Sanctions Evasion Scheme Involving Venezuelan Housing Project
  • 20 hours EU Proposes Online Turnover Tax For Big Tech Firms
  • 8 hours Elon Musk’s $2.6 Billion Tesla Challenge
  • 10 hours U.S. Judge To Question Big Oil On Climate Change
  • 12 hours The Facebook/Cambridge Analytica Scandal
  • 18 hours "Rock star of science" - Stephen Hawking, Who unlocked The Secrets Of Space And Time, Dies at 76
  • 19 hours McDonald's Sets Greenhouse Gas Reduction Targets
  • 14 hours Bad seven days for Martin Shkreli
  • 21 hours Step forward or blackmail? DJT: Tariffs On Steel and Aluminum Will Only Come Off If New Fair NAFTA Agreement Is Signed.
  • 1 day 2020 - Electricity From Renewables Will Be Cheaper Than From Most Fossil Fuels?
  • 12 hours Goldman Sachs Expects Tesla to Miss Model 3 Targets Again
  • 14 hours Nuclear Bomb = Nuclear War: Saudi Arabia Will Develop Nuclear Bomb If Iran Does
  • 19 hours Country With Biggest Oil Reserves Biggest Threat to World Economy
Alt Text

Big Oil’s Trillion Dollar Data Battle

Technology is transforming every industry…

Irina Slav

Irina Slav

Irina is a writer for the U.S.-based Divergente LLC consulting firm with over a decade of experience writing on the oil and gas industry.

More Info

Trending Discussions

Gulf Of Mexico Oil Producers Begin Evacuation Ahead Of Nate


After Chevron said on Wednesday it was preparing to begin shutting down two platforms in the Gulf of Mexico ahead of a tropical storm raging in the Caribbean, now more oil and gas producers in the Gulf have followed suit as Tropical Storm 16 was upgraded to Nate, currently wreaking havoc on Costa Rica and Nicaragua and soon heading for the US.

Nate brings heavy rains and is expected to strengthen into a hurricane before it makes landfall in Louisiana. Its route, Reuters notes, will take it through an area thickly populated with oil and gas platforms, producing over 1.6 million bpd of oil. This represents 17 percent of the U.S. crude oil production total. Of this, over 250,000 bpd in daily production has already been shut in, the Bureau of Safety and Environmental Enforcement said. The figure represents 14.55 percent of total oil production in the Gulf of Mexico.

The BSEE also said that as of Thursday, the crews of six production platforms in the Gulf had been evacuated. Among the companies evacuating crews and shutting in production are Shell, Exxon, BP, and Anadarko. ConocoPhillips and Marathon Oil are monitoring the progress of Nate but have not yet taken any steps with regard to production or personnel safety. Related: Venezuela And Russia Team Up To Tackle The Petrodollar

Processing facilities in Louisiana are also preparing for Nate as the location of its landfall is in close proximity to several refineries. Shell is cutting production at its Norco refinery, which has a capacity of 225,800 bpd, and Phillips 66 is mulling over the shutdown or temporary standby of its 247,000-bpd Alliance facility. Sources told Reuters that other refiners plan to continue to work as normal despite the approaching hurricane.

Nate is the second potentially devastating hurricane to touch down on the U.S. Gulf Coast in two months, after Harvey lived up to negative expectations, taking out a substantial chunk of the national refining capacity for a couple of weeks. What could aggravate the situation further this time is that Texas ports are rerouting larger tankers to Louisiana as they reel from Harvey’s effects. If Nate ends up as strong as Harvey, it will seriously disrupt the supply of crude oil to Gulf Coast refineries.

By Irina Slav for Oilprice.com

More Top Reads From Oilprice.com:

Back to homepage

Trending Discussions

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News