Add news
March 2010
April 2010
May 2010June 2010July 2010
August 2010
September 2010October 2010
November 2010
December 2010
January 2011
February 2011March 2011April 2011May 2011June 2011July 2011August 2011September 2011October 2011November 2011December 2011January 2012February 2012March 2012April 2012May 2012June 2012July 2012August 2012September 2012October 2012November 2012December 2012January 2013February 2013March 2013April 2013May 2013June 2013July 2013August 2013September 2013October 2013November 2013December 2013January 2014February 2014March 2014April 2014May 2014June 2014July 2014August 2014September 2014October 2014November 2014December 2014January 2015February 2015March 2015April 2015May 2015June 2015July 2015August 2015September 2015October 2015November 2015December 2015January 2016February 2016March 2016April 2016May 2016June 2016July 2016August 2016September 2016October 2016November 2016December 2016January 2017February 2017March 2017April 2017May 2017June 2017July 2017August 2017September 2017October 2017November 2017December 2017January 2018February 2018March 2018April 2018May 2018June 2018July 2018August 2018September 2018October 2018November 2018December 2018January 2019February 2019March 2019April 2019May 2019June 2019July 2019August 2019September 2019October 2019November 2019December 2019January 2020February 2020March 2020April 2020May 2020June 2020July 2020August 2020September 2020
News Every Day |

Hurricane’s heavy rains to dampen fuel demand, offshore sites closed

September 16, 2020

By Erwin Seba

HOUSTON (Reuters) – More than one-fourth of U.S. Gulf of Mexico offshore oil and gas production remains shut because of Hurricane Sally, which is creeping inland along the Alabama-Florida border, causing life-threatening flooding and cutting fuel demand in the U.S. Southeast.

The storm made landfall near Gulf Shores, Alabama, as a Category 2 hurricane on Wednesday morning. Oil prices rose early Wednesday, attributed in part to the expectation of a temporary drop in U.S. production.

Nearly 500,000 barrels per day (bpd) of offshore crude oil production and 759 million cubic feet per day (mmcfd) of natural gas output were shut in the U.S. Gulf of Mexico, according to the U.S. Interior Department. That’s roughly one-third of the shut-ins caused by Hurricane Laura, which landed further west in August.

Oil and chemical ports along the Mississippi River were moving to reopen with restrictions, and some offshore operators were preparing to return workers to offshore platforms on Thursday.

The hurricane was between Gulf Shores and Pensacola, heading northeast at 3 miles per hour (5 km per hour), with sustained winds of 100 mph (160 kph), the National Hurricane Center said in an update at 7 a.m. CDT (1200 GMT).

The Hurricane Center canceled storm surge warnings for the Louisiana coastline, signaling the removal of a threat to oil refineries in that state. Phillips 66’s <PSX.N> 255,600-bpd Alliance, Louisiana, refinery remains shut and Shell <RDSa.L> cut production to minimum at its 227,400-bpd Norco, Louisiana, refinery.

OIL PRICES RISE

Crude oil futures <LCOc1> <CLc1> rose more than 2% on Wednesday, extending the previous session’s gains caused by the shut-ins and an industry report forecasting a drop in U.S. crude stockpiles. [O/R]

“Even if the weather keeps production shut for a couple of days, the sheer volume of its size is enough for the market to breathe a bit,” said Rystad Energy senior oil markets analyst Paola Rodriguez-Masiu in a comment.

The National Hurricane Center earlier warned Sally could drop 10 to 20 inches (25 to 50 cm) of rain and up to 30 inches (76 cm) in some spots. It warned of “catastrophic and life-threatening” flooding along portions of the northern Gulf Coast.

(Reporting by Erwin Seba in Houston and Stephanie Kelly in New York; editing by Jonathan Oatis)



Read also

UPDATE: Latest Document Dump by DNI Ratcliffe Shows Hillary Camp Likely Hatched Plot on Russia TWO WEEKS AFTER SETH RICH MURDER AND 4 DAYS AFTER WIKILEAKS RELEASE

Appeals Court Says ICE Detainees Should Be Able To See A Judge In 48 Hours, Just Like Criminal Suspects

Man City appear to confirm Koulibaly transfer interest with ‘ask Kalidou a question’ link in announcement for Ruben Dias



News, articles, comments, with a minute-by-minute update, now on Today24.pro




Today24.pro — latest news 24/7. You can add your news instantly now — here