• Email Us: [email protected]
  • Contact Us: +1 718 874 1545
  • Skip to main content
  • Skip to primary sidebar

Medical Market Report

  • Home
  • All Reports
  • About Us
  • Contact Us

U.S. oil losses from Hurricane Ida rank among worst in 16 years

September 8, 2021 by David Barret Leave a Comment

September 8, 2021

By Sabrina Valle and Arpan Varghese

HOUSTON (Reuters) -Hurricane Ida’s damage to U.S. offshore energy production makes it one of the most costly since back-to-back storms in 2005 cut output for months, according to the latest data and historical records.

Ida’s 150 mile-per-hour (240 kph) winds cut most offshore oil and gas production for more than a week and damaged platforms and onshore support facilities. About 79% of the region’s offshore oil production remains shut and 79 production platforms are unoccupied after the storm made landfall on Aug. 29.

Some 17.5 million barrels of oil have been lost to the market to date, with shutdowns expected to continue for weeks. Ida could reduce total U.S. production by as much as 30 million barrels this year, according to energy analysts.

Offshore U.S. Gulf of Mexico wells produce about 1.8 million barrels of oil per day, 16% of the daily U.S. total.

“There could be volumes that are offline for a considerable amount of time,” said Facts Global Energy (FGE) consultant Krista Kuhl. “It’s just too early to tell.”

The losses are reducing U.S. exports at a time when oil prices are trading at about $70 a barrel because of continued curbs by producing-nations group OPEC and market expectations for demand.

At least 78% of Gulf of Mexico oil and natural gas were offline on Tuesday, nine days after Ida hit the Gulf Coast, causing wind and water damages to platforms and refineries, government data showed.

Hurricanes Katrina and Rita in 2005 remain the worst hit to Gulf Coast energy facilities. The back-to-back storms caused production losses that continued for months, removing about 162 million barrels of oil over three months, FGE said.

Production in the U.S. Gulf of Mexico that year dropped 12.6%, to 1.28 million barrels per day (bpd), from the prior year, according to data for the Energy Information Administration (EIA). Total U.S. oil production fell 4.7%, EIA data showed.

Restoring output after Ida will hinge on the time needed to repair a key offshore oil and gas transfer facility. Royal Dutch Shell on Monday said it continued to assess damage to its West Delta-143 offshore platform, which transfers about 200,000 barrels of oil and gas per day from three offshore oil fields.

A group of thunderstorms in the south-central Gulf of Mexico was expected to move northeast. The storms have a 30% chance of developing into a tropical cyclone in the next two days, the National Hurricane Center said on Tuesday.

(Reporting by Sabrina Valle in Houston and Arpan Varghese in Bengaluru; Editing by Bill Berkrot and Aurora Ellis)

Source Link U.S. oil losses from Hurricane Ida rank among worst in 16 years

David Barret
David Barret

Related posts:

  1. Tennis – Azarenka calls for mandatory COVID-19 vaccinations
  2. Apple offers small concession in easing App Store rules for Netflix, others
  3. U.S. weekly jobless claims fall; layoffs at 24-year low
  4. Explosion snags $6M on $120M valuation to expand machine learning platform

Filed Under: News

Reader Interactions

Leave a Reply Cancel reply

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

Primary Sidebar

  • The World’s Largest Island Is Shrinking And Shifting
  • Record-Breaking Marshmallow Planet – It’s A Cold, Peculiar World On A Very Slanted Orbit
  • Distinctive Rocks Might Be Remnants Of Earth Before The Collision That Made The Moon
  • Bright Northern Lights Across America Expected This Week As 3 Coronal Mass Ejections Fly Towards Earth
  • Brain Implant Enables Paralyzed Man To Feel And Use Objects Using Someone Else’s Hands
  • “This Is A Really Big Deal”: Brain Training Significantly Improves Key Neurochemical Levels In World First
  • “Wholly Unexpected”: First-Ever Fossil Paranthropus Hand Raises Questions About Earliest Tool Makers’ Identity
  • For Centuries, Nobody Knew Why Swiss Cheese Has Holes. Then, The Mystery Was Solved.
  • Scientists Studied The Infamous “Chicago Rat Hole” And They Have Some Bad News
  • Massive 166-Million-Year-Old Sauropod Footprints Become The Longest Dinosaur Trackway In Europe
  • Do Spiders Dream? “After Watching Hundreds Of Spiders, There Is No Doubt In My Mind”
  • IFLScience Meets: ESA Astronaut Rosemary Coogan On Astronaut Training And The Future Of Space Exploration
  • What’s So Weird About The Methuselah Star, The Oldest We’ve Found In The Universe?
  • Why Does Red Wine Give Me A Headache? Many Scientists Blame It On The Grape Skins
  • Manta Rays Dive Way Deeper Than We Thought – Up To 1.2 Kilometers – To Explore The Seas
  • Prof Brian Cox Explains What He Finds “Remarkable” About Interstellar Object 3I/ATLAS Story
  • Pioneering “Pregnancy Test” Could Identify Hormones In Skeletons Over 1,000 Years Old
  • The First Neolithic Self-Portrait? Stony Human Face Emerges In 12,000-Year-Old Ruins At Karahan Tepe
  • Women Are Diagnosed With ADHD 5 Years Later Than Men, Even With Worse Symptoms
  • What Is Cryptozoology? We Explore The History And Mystery Of This Controversial Field
  • Business
  • Health
  • News
  • Science
  • Technology
  • +1 718 874 1545
  • +91 78878 22626
  • [email protected]
Office Address
Prudour Pvt. Ltd. 420 Lexington Avenue Suite 300 New York City, NY 10170.

Powered by Prudour Network

Copyrights © 2025 · Medical Market Report. All Rights Reserved.

Go to mobile version