Gulf Oil Platforms and Refineries Recover from Isaac

By Admin
In the aftermath of Hurricane Isaac, the Gulf Coast's oil and gas hub is slowly coming back to life as power is restored and floodwaters are clear...

 

In the aftermath of Hurricane Isaac, the Gulf Coast's oil and gas hub is slowly coming back to life as power is restored and floodwaters are cleared out at refineries.

Nearly 60 percent of production, or 800,000 barrels of oil per day, remains offline, according to the Bureau of Safety and Environmental Enforcement, but around 100,000 barrels per day of production was restored over the weekend. During the thick of the storm, 1.3 million barrels per day of oil was suspended out of the total 19 million barrels of petroleum the country consumes every day.

SEE OTHER TOP STORIES IN THE ENERGY DIGITAL CONTENT NETWORK

Hurricane Isaac to Stir Gulf Oil Spill Remains

Ancient Passive Cooling Designs Provide Insight

Read More in Energy Digital's Hottest Summer Issue

Due to threat Isaac posed to the Gulf, the national average price of oil rose 11 cents last week, leveling off to just under $3.83 per gallon Friday and declining another two cents Monday—the highest price for gasoline on Labor Day in history.

The good news is analysts say prices should go down in the upcoming weeks as refineries ramp back up and an ending summer season drives refineries to switch to cheaper winter blends of gasoline.

Onshore pipelines, ports and terminals have re-opened for the most part, while several natural gas pipelines remain shut. The Energy Department anticipates that most operators will be back to full operating capacity over the next few days.

 

DOWNLOAD THE ENERGY DIGITAL IPAD APP

 

 

Share

Featured Articles

COP27 agrees to climate compensation fund

The deal is said to be a historic first in acknowledging the vast inequities of the climate crisis

North America's natural gas can help mitigate energy crisis

In the effort towards decarbonisation, North America could be a key player in providing affordable natural gas, addressing energy security issues

COP27: Egypt and Norway to build 100MW green hydrogen plant

Plant will be built in Egypt’s Ain Sokhna region, on the Red Sea coast, and will be implemented in cooperation with Scatec, the Norwegian energy giant

Renewable energy company Masdar opens office in Saudi Arabia

Renewable Energy

Ørsted closes US$140m transaction with ECP for US portfolio

Renewable Energy

ADNOC Drilling delivers world record well at Upper Zakum

Oil & Gas