• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 2 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 1 day "What’s In Store For Europe In 2023?" By the CIA (aka RFE/RL as a ruse to deceive readers)
  • 6 days America should go after China but it should be done in a wise way.
  • 1 day World could get rid of Putin and Russia but nobody is bold enough
  • 1 day How Far Have We Really Gotten With Alternative Energy
  • 6 hours Even Shell Agrees with Climate Change!
  • 2 days The European Union is exceptional in its political divide. Examples are apparent in Hungary, Slovakia, Sweden, Netherlands, Belarus, Ireland, etc.
  • 12 days Does Toyota Know Something That We Don’t?
  • 4 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in

Breaking News:

OPEC Lifts Production in February

Mysterious Power Outage Paralyzes Tajikistan

Mysterious Power Outage Paralyzes Tajikistan

Tajikistan experienced a significant power…

66% Of Gulf Of Mexico Oil Production Still Offline On Friday

The largest deepwater crude oil terminal in the United States has reopened in full after Hurricane Ida struck force a closure, a spokesperson said on Friday, according to Reuters.

The Louisiana Offshore Oil Port has been closed since August 28 in anticipation of Hurricane Ida.

But while LOOP LLC is back in business, 65 (11.61%) Gulf of Mexico platforms remain evacuated, and 66.36% of all Gulf of Mexico oil production remains offline—or 1.2 million barrels per day. 75.55% of all natural gas production also remains shut-in as of Friday, according to the Bureau of Safety and Environmental Enforcement (BSEE).

Oil production in the United States was seriously affected last week, sinking to just 10 million barrels per day—a level not seen since February.

Hurricane Ida is the worst hurricane that the U.S. offshore industry has seen in the Gulf of Mexico in 16 years, when Hurricane Katrina disrupted oil production on some level for many months, according to Zerohedge.

But Hurricane Ida has caused the largest-ever initial loss of crude oil production that the GoM producers have ever see.

Although LOOP reports that it is open, Refinitiv Eikon vessel tracking data shows no vessels docked in port on Friday. However, there is one VLCC, bound for Asia, waiting to load crude oil.

Royal Dutch Shell declared a force majeure on numerous contracts on Thursday, canceling some export cargoes after Mars offshore facilities were damaged.  At least two of the cargoes that were canceled were destined for China.

ADVERTISEMENT

Additional VLCCs, including from China, are headed to LOOP for crude loadings for this month.

By Julianne Geiger for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News