Hurricane Ian shuts in 9pc of US Gulf oil output

  • : Crude oil, Natural gas
  • 22/09/28

US offshore operators shut 9pc of Gulf of Mexico oil production, a slight decrease from yesterday's 11pc, as Hurricane Ian came ashore on Florida's west coast as a category 4 storm.

About 157,700 b/d of offshore oil output was off line as of 12:30pm ET, according to the Bureau of Safety and Environmental Enforcement (BSEE). About 128mn cf/d of natural gas production, or 6pc of the region's output, was also off line. Operators evacuated 11 platforms.

Although Ian is the first major hurricane of the season to threaten the mainland US, it has spared the majority of oil and gas facilities in the Gulf. The region accounts for about 15pc of US crude output and 5pc of dry-gas production.

Ian made landfall near Cape Coral, Florida.

President Joe Biden today warned the oil industry not to use Ian as an excuse to increase gasoline prices.

"This small, temporary storm impact on oil production provides no excuse for price increases at the pump," Biden said, calling on officials to look into potential price gouging if companies made any attempt to hike fuel prices.

BP said yesterday it was redeploying personnel to two offshore platforms that were shut in advance of the hurricane. The company was working to return staff to the 130,000 b/d Na Kika and 250,000 b/d Thunder Horse platforms.

Chevron evacuated personnel from its Petronius and Blind Faith platforms earlier in the week. Production at the company's other facilities in the Gulf of Mexico remained at normal levels.

Related news posts

Argus illuminates the markets by putting a lens on the areas that matter most to you. The market news and commentary we publish reveals vital insights that enable you to make stronger, well-informed decisions. Explore a selection of news stories related to this one.

Business intelligence reports

Get concise, trustworthy and unbiased analysis of the latest trends and developments in oil and energy markets. These reports are specially created for decision makers who don’t have time to track markets day-by-day, minute-by-minute.

Learn more