FACTBOX: Oil cos shut oil, refining output ahead of Ike

Thu Sep 11, 2008 2:38pm EDT
 
[-] Text [+]

(Reuters) - Oil companies, still reeling from the impacts of Hurricane Gustav more than a week ago, shut more than 95 percent of their offshore oil production in the Gulf of Mexico and 16 percent of their U.S. refining capacity as a precaution ahead of Hurricane Ike.

Ike was gathering strength as it churned through the Gulf of Mexico's warm waters on a track that would skirt the heart of the U.S. offshore oil patch before slamming into the Texas coast late on Friday or early on Saturday.

The Gulf is home to a quarter of U.S. crude oil production and 15 percent of U.S. natural gas production, and a big share of the nation's oil refineries dot the Gulf Coast from Mississippi to Texas.

The following outlines the impact of last week's Hurricane Gustav and the approach of Ike on the energy sector:

***************************HIGHLIGHTS*************************

CUMULATIVE IMPACT OF GUSTAV AND IKE

*14.1 million barrels of crude oil

*67.9 billion cubic feet of natural gas

*15.5 million barrels of refining (counting only plants completely shut)

CURRENTLY SHUT/SLOWED

*95.9 pct Gulf of Mexico oil output

*73.1 pct Gulf of Mexico gas output

*11 refineries shut, 16.1 pct of US capacity

*4 refineries representing 6.8 pct of US capacity at reduced rates

OTHER HIGHLIGHTS

*Henry Hub extends force majeure due Ike   Continued...

 

Editor's Choice

A selection of our best photos from the past 24 hours.  Slideshow 

Most Popular on Reuters

  • Articles
  • Video
Allen Frazier carries a tray of fish he cleaned while processing them in Naubinway, Michigan October 15, 2009.  REUTERS/John Gress
"Hanging on" in rural American towns

The recession has slowly burned through hundreds of small rural towns where the loss of large local employers have cast a long shadow.  Full Article | Slideshow