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Oil Production Down 78 Percent in Gulf of Mexico

Oil Production Down 78 Percent in Gulf of Mexico The U.S. government says oil production in the Gulf of Mexico was nearly 80 percent below normal as of Saturday, five days after Hurricane Katrina tore through the region. A report from the U.S. Minerals Management Service said Katrina had cut oil production in the Gulf by about 1.18 million barrels of oil per day. It said more than 280 offshore oil-drilling rigs and platforms remained evacuated. The figures represent a slight improvement from Friday, when oil production in the Gulf was nearly 90 percent below normal. Katrina's disruption to Gulf-area oil production and refineries

Oil, Gasoline Rise as Hurricane Rita Shuts Gulf of Mexico Rigs

Oil, Gasoline Rise as Hurricane Rita Shuts Gulf of Mexico Rigs Crude oil and gasoline climbed as Hurricane Rita threatened rigs, refineries and platforms in the Gulf of Mexico, less than a month after Hurricane Katrina struck. Producers including BP Plc and Anadarko Petroleum Corp. evacuated staff and shut off-shore operations in the Gulf. Rita may reach the coast of Texas, the producer of a quarter of the nation's refined fuel, by Friday. The storm is expected to grow as strong as Katrina, which shut down nearly 10 percent of U.S. refining capacity when it hit last month. ``Rita is more

GlobalSantaFe Updates Status of Gulf of Mexico Fleet

GlobalSantaFe Updates Status of Gulf of Mexico Fleet (NYSE: GSF) today reported that it has accounted for all five of its drilling rigs that were in the direct path of Hurricane Katrina. All personnel on the five rigs were safely evacuated prior to the storm's arrival. GlobalSantaFe rigs in the path of Hurricane Katrina included the GSF Development Driller II and GSF High Island VIII, which showed no signs of damage during a preliminary aerial inspection. The GSF Celtic Sea and GSF Development Driller I were listing slightly, and crews and equipment are arriving on location

BHP Billiton says Gulf of Mexico production remains shut

BHP Billiton says Gulf of Mexico production remains shut Australia's BHP Billiton Ltd. (BHP) said Wednesday that oil production at its Gulf of Mexico rigs is still shut after hurricane Katrina caused devastation in the area. There is little damage to BHP's facilities, but the disruption at refineries means production will be stopped for much longer than previously thought, a BHP spokeswoman said. She said the company doesn't know how long. Last week, BHP said it expected oil production to be shut off for a couple of days, after it evacuated crews and moved its rigs in preparation for the hurricane.

Gulf of Mexico oil ops in ’relatively good shape’ after Rita

Gulf of Mexico oil ops in 'relatively good shape' after Rita - Texas governor Oil platforms in the Gulf of Mexico and the hub of refineries along the southern coast of the US appear to have survived Hurricane Rita without major damage, the governor of Texas said on Sunday. 'The refineries appear to be in relatively good shape,' Governor Rick Perry told Fox News Sunday. One pipeline was ruptured 'but it's being repaired as we speak,' Perry said. While oil companies said it would take some time to figure out the full effect of the storm, Perry expressed cautious optimism

Oil leaps as new storm menaces Gulf of Mexico

Oil leaps as new storm menaces Gulf of Mexico Oil leapt by $1.50 on Monday as another tropical storm gathered strength in the Caribbean and menaced US rigs and refineries already rocked by the most active hurricane season in decades. Tropical Storm Wilma, the 21st named storm this year, formed from a depression in the Caribbean and could move into the oil-rich Gulf of Mexico by the end of the week, the US National Hurricane Center said on its website. The last time there were so many named storms was 1933. Vulnerable oil platforms and refineries along the Gulf of Mexico

Some Oil, Gas Facilities in Gulf of Mexico Resume Pumping

Several oil and gas facilities in the Gulf of Mexico have resumed operations following Hurricane Katrina. However, an industry analyst says the full extent of damage to generating facilities is still unknown. Jim Flanagan of IHS Energy says the story of Hurricane Katrina is still unfolding. He says there's a lack of published reports by energy companies about damage done to their offshore facilities. "I think it has a lot to do with, number one, some of the on-shore staging areas have been pretty much devastated," said Mr. Flanagan. "So, it's difficult to get transportation to and from some

Shell, BP evacuate Gulf of Mexico workers due to Hurricane Katrina

Shell, BP evacuate Gulf of Mexico workers due to Hurricane Katrina Royal Dutch Shell PLC and BP PLC have evacuated workers from their platforms in the Gulf of Mexico as Hurricane Katrina heads towards the area. Shell, in a statement, said it will evacuate around 120 non-essential staff from the eastern part of its Gulf operations as a 'precaution'. A BP spokesman said it will also evacuate a still undetermined number of workers. Both companies said the move will not affect their Gulf production. Katrina came ashore in Florida on Thursday, killing at least three people and leaving about 1.5 mln

Crude oil rises as Emily hits Mexico Markets expect sharp decline in U.S. oil supplies

Crude oil rises as Emily hits Mexico Markets expect sharp decline in U.S. oil supplies Crude-oil futures gained Wednesday as Hurricane Emily crashed into Mexico and disrupted production in the area. Traders also positioned themselves ahead of the latest weekly U.S. supplies data. August-dated crude oil rose 44 cents to $57.90 a barrel in the electronic trading on the New York Mercantile Exchange. Hurricane Emily came ashore on the northeastern coast of Mexico, about 80 miles south of the U.S.-Mexico border, on Wednesday, returning to category three-level strength after earlier weakening to a category one storm. The hurricane is expected to work

Wilma may become hurricane, heads for Gulf of Mexico

Wilma may become hurricane, heads for Gulf of Mexico Four of seven major weather models predict Tropical Storm Wilma, which could become a hurricane by Tuesday, will head for the Gulf Coast of Florida. Earlier Monday morning, most of the models forecast the storm would crash into the Yucatan Peninsula in Mexico or Belize later this week. By late morning, most of the forecasts showed the storm would turn north toward western Cuba and Florida's Gulf Coast. The U.S. National Hurricane Center still forecast the storm would graze the northeastern tip of the Yucatan and enter the Gulf of Mexico where it could