Energy companies are beginning their preparations to resume their oil and gas productions in the United States’s Gulf Of Mexico after Tropical Storm Cristobal hit the area with winds and extremely heavy rains. Last week, 182 offshore facilities were evacuated by their respective producers, and some facilities were shut down the production, with the remaining are limiting their production due to safety reason and limited offshore personnel. The tropical storm has slashed about a third of oil and gas productions wells since last week.
Murphy Oil Corp, BP Plc and Royal Dutch Shell were among the first companies that announced their preparations to resume the normal production rate and operations, also returning their worker to the respective offshore facilities. The companies customarily inspect their platforms and ensuring safety productions after the storms before returning to normal production.
In reason of limited productions through last week, U.S. Gulf of Mexico spot gasoline prices has slightly increased since Friday, June 5, by 0.25 cent/gallon ($0.0025/gallon).
Tropical Storm Cristobal has weakened after the landfall on Sunday to Louisiana coast with 50 miles/hour (80 km/hour) winds. The energy producers around the area have been forced to shut 35% gas and 34% oil output from their 1.93 million barrel/day output during the storm passing.
Market rumour has it that Exxon Mobil Corp, PBF Energy Inc and Shell kept their Louisiana oil refineries in operation as Cristobal hit the area last weekend, but none of the companies above has commented.
