Tue Sep 25 06:32:40 200717

Fetching...
 
YOU ARE HERE: Homepage > Newsdesk > Article
Oil firms boost output from US Gulf after storm-MMS
22 Sep 2007 19:23:20 GMT
Source: Reuters
(Adds details)

NEW YORK, Sept 22 (Reuters) - Oil companies increased oil and natural gas output from the offshore Gulf of Mexico on Saturday, recovering from a tropical depression that dealt the biggest blow to the region's energy production in two years.

As of 1230 EDT (1630 GMT), some 757,608 barrels per day or, 58.3 percent of the region's crude oil output remained shut -- an improvement from the 62.7 percent shut on Friday, the U.S. Minerals Management Service said in a report.

Another 1.938 billion cubic feet per day of natural gas, or 25.2 percent of the region's gas production was also still shut, from 30.8 percent on Friday, the MMS said.

Energy companies began flying crews back out to offshore oil and gas platforms Friday after the foul weather passed through the eastern Gulf of Mexico without strengthening into a severe storm.

Worries that the cluster of wind squalls would become a destructive tempest triggered mass evacuations from offshore platforms earlier in the week, fueling a record rally in oil prices to over $84 a barrel.

The Gulf of Mexico is home to 1.3 million bpd of crude production, a quarter of the nation's domestic output, and 7.7 bcfd of natural gas production.

Analysts said that a series of accidents and oil spills in the energy industry in recent years, along with fresh memories of the destructive hurricanes in 2005, had made oil companies react much more cautiously to the storm than they may have in the past.

Hurricanes Katrina and Rita in 2005 temporarily knocked out a quarter of U.S. crude and fuel production, toppling offshore platforms, wrecking undersea pipelines, flooding coastal refineries and sending energy prices to then-record highs.
AlertNet news is provided by

Delicio.us  |   Digg  |   NewsVine  |   Reddit                                                                                  Permalink
FACTBOX-Can Lebanon's rival camps elect president?
Bush to focus on Myanmar not Iran in U.N. speech
Car bomb kills 3, wounds 20 in Iraq's Basra
Chicago charity hands out $500,000 'genius' grants
Climate shift is biggest security risk: Australia
The UMCOR Hotline for September 18, 2007
HungerFREE Campaign Tells UN: "Put food on the table"
Sept. 11: Many Americans struggle with fear, anxiety
Publications Update: a new newsletter from the International HIV/AIDS Alliance
New International Health Partnership must build on AIDS accountability


URL: http://www.alertnet.org/thenews/newsdesk/N22553888.htm

For our full disclaimer and copyright information please visit http://www.alertnet.org