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Oil prices continued to fall…

Gulf Of Mexico Oil Loses 301,000 BPD To Storm Cindy

Offshore

One-sixth of offshore production in the Gulf of Mexico had been shut in by the end of Wednesday, ahead of Tropical Storm Cindy, according to the Bureau of Safety and Environmental Enforcement.

The total shut-in amounts to 301,618 barrels per day of lost oil production. Natural gas output has been trimmed by 0.32 percent, or 10.1 million cubic feet per day as well, according to the BSEE’s Hurricane Response Team.

The Louisiana Offshore Oil Port (LOOP), the largest private crude storage facility in the United States, had suspended loading procedures on Wednesday.

British Petroleum, Chesapeake Energy and other oil companies active in the gulf evacuated non-essential personnel in anticipation of the storm, the Houston Chronicle reported on Wednesday.

"At this time, there have been no impacts to production," BP spokesperson Jason Ryan said in a statement to Platts. "BP's severe weather assessment team is in constant communication with our offshore teams."

Similarly, Anadarko said: "We are continuing to monitor the weather system as it moves through the Gulf and are prepared to shut in our operated facilities if necessary to ensure the safety of our personnel and to protect the environment.”

The BSEE added that the shut-ins could be completed remotely and workers could seal applicable valves from control centers on solid ground.

Related: Solar And Wind Revolution Happening Much Faster Than Expected

On shore, Cindy is expectedto bring a foot of rain to the states bordering the gulf on Thursday, potentially causing life-threatening flash floods, according to the National Hurricane Center. Winds could speed up to 50 mph.

Hurricane season began in the Atlantic Ocean and the Gulf of Mexico officially on June 1st, but this year, the first tropical storm, named Arlene, hit in April.

By Zainab Calcuttawala for Oilprice.com

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  • Scool Link on June 23 2017 said:
    Yeah because that region has never experienced tropic storm weather before....

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