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Oil shut outs due to Cindy

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posted on Jul, 6 2005 @ 05:33 PM
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Today 12% of the Gulf of Mexico's oil production was halted.
It proably won't effect teh gas market too much but you might see something...




Over 12 percent of Gulf's daily oil production turned off

02:17 PM CDT on Wednesday, July 6, 2005

Associated Press

Over 12% of the Gulf of Mexico's daily oil production was shut off Wednesday because of production platform evacuations forced by Tropical Storm Cindy, a government agency reported.

In a survey of oil companies, the U.S. Minerals Management Service said 85 platforms had been evacuated and shut down. Eleven drilling rigs were left idle by the storm, the agency said.

Oil being kept off the market amounted to 12.7% of the Gulf's normal daily production of 1.5 million barrels, the agency said, while natural gas that was shut in amounted to 7.5 percent of the Gulf's normal daily production of 10 billion cubic feet.

The Gulf of Mexico has 819 staffed production platforms and 135 rigs, the MMS said.

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On the Net: U.S. Minerals Management Service: www.mms.gov...

(Copyright 2005 by The Associated Press. All Rights Reserved.)



www.mms.gov...




posted on Jul, 8 2005 @ 08:41 AM
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I don't think this will have too much of an impact because it is only temporary and we know that once the storm has passed, the work crews will ba back pumping out oil just like they were before the storm.

Now if the storm destroys the oil rigs, that might lead to some type of financial impact as the previous supply of oil will take a while to be restored.





 
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