FACTBOX: Hurricane Ike threat stalls U.S. Gulf oil recovery

Mon Sep 8, 2008 7:53am EDT
 
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(Reuters) - The recovery of oil and natural gas production in the Gulf of Mexico in the wake of Hurricane Gustav slowed over the weekend due to a new hurricane threat.

Hurricane Ike was pummeling Cuba Monday morning and was expected to reach the Gulf of Mexico by Wednesday.

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

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

*Hurricane Ike threat stalls Gulf oil recovery

*5 refineries, 4.6 pct of US capacity, still shut

*79.8 percent US Gulf oil shut, 70.0 pct US Gulf gas shut

*Shell stops returning workers to Gulf due to Ike

*Louisiana Offshore Oil Port restarts at slowed pace

*Some 500,000 Entergy customers still lack power

*Marathon seeks US SPR oil, Citgo withdraws request

******************CRUDE OIL, NATURAL GAS********************

*79.8 percent of U.S. Gulf's 1.3 million barrels per day crude output shut

Sunday, down from 87.5 pct Saturday, MMS says.

*70.0 pct of the Gulf's 7.4 billion cubic feet per day natural gas output

shut Sunday, down from 74.1 pct Thursday   Continued...

 

Analysis

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