U.S. crude is restarting

Oil and gas facilities in the U.S. Gulf of Mexico remain disrupted for more than a week after Hurricane Ida hit.

Hurricane Ida has hit oil and gas facilities in the Gulf of Mexico, causing severe damage. Power outages on land pose and logistical obstacles are causing major problems. Company attempts to restart production are much slower than expected. About 88% or about 1.6 million barrels/day of crude oil production. And 83% or about 1.8 billion cubic feet/day of natural gas production remains suspended.

Refineries restart

Royal Dutch Shell PLC is currently assessing the damage to its offshore oil drilling rigs. Its West Delta -143 oil rig was hit hard by the hurricane. In operation, West Delta-143 produces about 200,000 barrels of oil and natural gas per day. Royal Dutch Shell is the largest producer in the Gulf of Mexico.

The Port of New Orleans is now open for shipping again.

In Louisiana, four refineries have started restarting after the hit of Hurricane Ida and are currently producing 578,000 barrels/day of oil. Five other refineries with a capacity of 1.0 million barrels/day, or 6% of total refining capacity in the USA, have not yet restarted.

In the Baton Rouge region, three refineries and one near New Orleans have resumed production. These four refineries account for 1.3 million barrels/d of US refining capacity.

Meanwhile, Exxon Mobil Corp (NYSE: XOM) has resumed operations at the Baton refinery with a production capacity of 520,000 barrels/day.

On Friday, the Ministry of Public Utilities restored power to the seven affected refineries. Analysts estimate that the restart of the refineries will take several weeks.

The Spot Market is Open

Monday, September 6, 2021

Metals
Updated at
USD
Bid/Ask
Ounce
Change

Low/High
Gold
09.25
1,827.30
1,828.30
-0.30
-0.02%
1,825.10
1,831.30
Silver
09.25
24.72
24.82
+0.05
0.18%
24.64
24.89
Platinum
09.20
1,016.00
1,026.00
-5.00
-0.49%
1,015.00
1,032.00
Palladium
08.00
2,363.00
2,513.00
+7.00
0.30%
2,356.00
2,528.00
Rhodium
05.00
15,750.00
17,750.00
0.00
0.00%
15,750.00
17,750.00
Energy
Updated at

Price

Change

%Change
Crude Oil
09.25

68.54

-0.75

-1.08%

Leave a Reply

Change Language
%d bloggers like this: