AIRLINK 81.10 Increased By ▲ 2.55 (3.25%)
BOP 4.82 Increased By ▲ 0.05 (1.05%)
CNERGY 4.09 Decreased By ▼ -0.07 (-1.68%)
DFML 37.98 Decreased By ▼ -1.31 (-3.33%)
DGKC 93.00 Decreased By ▼ -2.65 (-2.77%)
FCCL 23.84 Decreased By ▼ -0.32 (-1.32%)
FFBL 32.00 Decreased By ▼ -0.77 (-2.35%)
FFL 9.24 Decreased By ▼ -0.13 (-1.39%)
GGL 10.06 Decreased By ▼ -0.09 (-0.89%)
HASCOL 6.65 Increased By ▲ 0.11 (1.68%)
HBL 113.00 Increased By ▲ 3.50 (3.2%)
HUBC 145.70 Increased By ▲ 0.69 (0.48%)
HUMNL 10.54 Decreased By ▼ -0.19 (-1.77%)
KEL 4.62 Decreased By ▼ -0.11 (-2.33%)
KOSM 4.12 Decreased By ▼ -0.14 (-3.29%)
MLCF 38.25 Decreased By ▼ -1.15 (-2.92%)
OGDC 131.70 Increased By ▲ 2.45 (1.9%)
PAEL 24.89 Decreased By ▼ -0.98 (-3.79%)
PIBTL 6.25 Decreased By ▼ -0.09 (-1.42%)
PPL 120.00 Decreased By ▼ -2.70 (-2.2%)
PRL 23.90 Decreased By ▼ -0.45 (-1.85%)
PTC 12.10 Decreased By ▼ -0.89 (-6.85%)
SEARL 59.95 Decreased By ▼ -1.23 (-2.01%)
SNGP 65.50 Increased By ▲ 0.30 (0.46%)
SSGC 10.15 Increased By ▲ 0.26 (2.63%)
TELE 7.85 Decreased By ▼ -0.01 (-0.13%)
TPLP 9.87 Increased By ▲ 0.02 (0.2%)
TRG 64.45 Decreased By ▼ -0.05 (-0.08%)
UNITY 26.90 Decreased By ▼ -0.09 (-0.33%)
WTL 1.33 Increased By ▲ 0.01 (0.76%)
BR100 8,052 Increased By 75.9 (0.95%)
BR30 25,581 Decreased By -21.4 (-0.08%)
KSE100 76,707 Increased By 498.6 (0.65%)
KSE30 24,698 Increased By 260.2 (1.06%)
Markets

Oil firms pull staff from offshore platforms ahead of hurricane

HOUSTON: Oil companies, including BP , Equinor and Exxon Mobil Corp, on Monday started evacuating personnel from oil
Published October 8, 2018

HOUSTON: Oil companies, including BP , Equinor and Exxon Mobil Corp, on Monday started evacuating personnel from oil and gas production platforms as Hurricane Michael began its trek up the eastern U.S. Gulf of Mexico.

The National Hurricane Center forecast the storm would become at least a Category 3 hurricane on the five-step Saffir-Simpson scale before making landfall Wednesday on the U.S. Gulf Coast. Category 3 storms have sustained winds of 111 to 129 miles (178 to 208 km) per hour.

BP said it shut in production at four platforms and that drilling rigs are taking steps to withstand the storm. The platforms evacuating personnel and shutting in production include BP's Atlantis, Mad Dog, Na Kika and Thunder Horse facilities, the company said.

Norwegian state oil firm Equinor evacuated its Titan production platform and Exxon removed staff from its Lena production platform, spokespeople for the companies said. Exxon said it did not expect the staff reduction to affect output.

Hess Corp, Royal Dutch Shell and Anadarko Petroleum Corp said they were monitoring the storm and would take actions as needed. Shell was securing some drilling operations on Monday but facilities were still staffed and operating, spokeswoman Kimberly Windon said.

The storm is tracking east of major oil lease areas, limiting its effect on production, said John Tharp, operations supervisor at Weather Decision Technologies. Producers should still expect 15- to 20-foot waves, "enough to be disruptive of oil production operations," west of the storm track, he said.

The storm's current path takes it away from refinery-heavy areas of the central and western Gulf Coast.

Shipping ports, including Gulfport and Pascagoula, Mississippi; Mobile, Alabama; and Pensacola, Florida, were open on Monday, but the U.S. Coast Guard warned of gale-force winds in the next 48 hours.

Offshore production in the Gulf accounts for 17 percent of total U.S. crude oil output, according to the U.S. Energy Information Administration. Natural gas production from Gulf offshore operations provides 5 percent of the U.S. total.

Over 45 percent of U.S. refining capacity is located along the Gulf Coast, along with 51 percent of the nation's natural gas processing plant capacity, the EIA said.

Production platforms are permanently attached to the sea floor and cannot be moved. Rigs, used for exploration, can be towed out of harm's way during a storm.

Copyright Reuters, 2018
 

Comments

Comments are closed.