Fifth of US Gulf of Mexico crude oil and 28% of gas offline, regulator says

HOUSTON (Reuters) – Nearly a fifth of crude oil production and 28% of natural gas output in U.S. Gulf of Mexico federal waters remained offline in the aftermath of Hurricane Francine, the U.S. offshore energy regulator said on Sunday.

Francine tore through prime offshore oil and natural gas producing areas and slammed into Louisiana as a Category 2 hurricane on Wednesday. The storm toppled trees, flooded coastal areas and cut power in four southern states.

Energy producers had shut-in 338,690 barrels per day of oil production and nearly 515 million cubic feet of natural gas from Gulf waters, the Bureau of Safety and Environmental Enforcement estimated from producer reports.

This post is originally published on INVESTING.

  • Related Posts

    India’s budget likely to raise major subsidies by 8% to $47 billion in next fiscal

    By Sarita Chaganti Singh and Mayank Bhardwaj NEW DELHI (Reuters) – India is likely to raise spending on food, fertiliser, and cooking gas subsidies to 4.1 trillion rupees ($47.41 billion)…

    Oil extends drop as investors watch Trump 2.0 policies

    By Jeslyn Lerh SINGAPORE (Reuters) – Oil prices dipped on Wednesday extending the previous session’s declines as markets weighed U.S. President Donald Trump’s declaration of a national energy emergency on…

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    You Missed

    Trading 212 Taps Marqeta to Launch Debit Card in 20 European Countries

    • January 22, 2025
    Trading 212 Taps Marqeta to Launch Debit Card in 20 European Countries

    India’s budget likely to raise major subsidies by 8% to $47 billion in next fiscal

    • January 22, 2025
    India’s budget likely to raise major subsidies by 8% to $47 billion in next fiscal

    State Street Taps Neo-Broker BUX to Expand $4.7 Trillion ETF Reach

    • January 22, 2025
    State Street Taps Neo-Broker BUX to Expand $4.7 Trillion ETF Reach

    Dow Jones Forecast & Predictions for 2025, 2026, 2027–2030 and Beyond

    • January 22, 2025
    Dow Jones Forecast & Predictions for 2025, 2026, 2027–2030 and Beyond

    XTX Markets Plans €1 Billion Data Center Push in Finnish Arctic

    • January 22, 2025
    XTX Markets Plans €1 Billion Data Center Push in Finnish Arctic

    Oil extends drop as investors watch Trump 2.0 policies

    • January 22, 2025
    Oil extends drop as investors watch Trump 2.0 policies