• 3 minutes Could Venezuela become a net oil importer?
  • 7 minutes Reuters: OPEC Ministers Agree In Principle On 1 Million Barrels Per Day Nominal Output Increase
  • 12 minutes Battle for Oil Port: East Libya Forces In Full Control At Ras Lanuf
  • 21 hours Oil prices going Up? NO!
  • 5 hours Reuters: OPEC Ministers Agree In Principle On 1 Million Barrels Per Day Nominal Output Increase
  • 10 mins The Tony Seba report
  • 12 hours Renewables to generate 50% of worldwide electricity by 2050 (BNEF report)
  • 8 hours Kenya Eyes 200+ Oil Wells
  • 7 hours Are Electric Vehicles Really Better For The Environment?
  • 2 hours LNG Shortage on the Way
  • 2 days Could oil demand collapse rapidly? Yup, sure could.
  • 1 day China’s Plastic Waste Ban Will Leave 111 Million Tons of Trash With Nowhere To Go
  • 1 day Oil prices going down
  • 17 hours Saudi Arabia turns to solar
  • 2 days Battle for Oil Port: East Libya Forces In Full Control At Ras Lanuf
  • 8 hours OPEC soap opera daily update
  • 4 hours Could Venezuela become a net oil importer?
  • 2 days Russia's Energy Minister says Oil Prices Balanced at $75, so Wants to Increase OPEC + Russia Oil by 1.5 mbpd
  • 2 days Tesla Closing a Dozen Solar Facilities in Nine States
Alt Text

U.S. Overtakes Saudi Arabia In Recoverable Oil Reserves

The United States has overtaken…

Alt Text

Oil Inches Higher On Strong Crude Draw

Oil prices rebounded on Wednesday…

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 Output Falls Nearly 100% After Hurricane Nate

offshore rig

As of Sunday, 92.61 percent of crude oil production capacity in the Gulf of Mexico was shut in, the Bureau of Safety and Environmental Enforcement said. In barrels, this amounted to 1.62 million per day, with 298 platforms and 14 rigs evacuated, representing 40.43 percent and 70 percent of platforms and rigs in the Gulf, respectively. Another 10 rigs, dynamically positioned ones, were moved from their locations as a precaution.

Nate, which made final landfall in Mississippi, has been moving inland and has in the process weakened back into a tropical depression. Heavy rains are in the forecast, according to the Weather Channel, but oil and gas field and refinery operators are already preparing to restart their shut-in facilities

Chevron and Shell are bringing back personnel to the platforms and doing assessments on the infrastructure, including platforms, pipelines, and terminals. New Orleans has already resumed normal port operations and vessel traffic, quenching worries that Nate will disrupt oil and fuel shipments from one of the main Gulf Coast ports.

Chevron also said it was assessing the impact of the hurricane on its Pascagoula refinery, which has a daily capacity of 340,000 bpd, and which Genscape said Chevron had shut down on Saturday. Chevron never confirmed the report, and on Sunday there were signs of activity at the refinery. Related: Is This The Geopolitical Shift Of The Century?

Phillips 66, however, shut down its Alliance refinery, with a capacity of 247,000 bpd, and has now reported it undamaged from the hurricane. The company planned to restart the facility yesterday, but because of a crude oil shortage in the Gulf, it may take a few more days for the refinery to resume normal operations.

This shortage should have a beneficial if short-lived effect on prices as well as on inventories while the platforms and refineries that were shut down return to normal operation.

By Irina Slav for Oilprice.com

More Top Reads From Oilprice.com:




Back to homepage

Trending Discussions


Leave a comment
  • roger on October 09 2017 said:
    hope more production gets shut down and refinery remain intact!

Leave a comment




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