Hurricane Rafael has halted over 23% of crude oil and 10% of natural gas production in the U.S. Gulf of Mexico, according to the U.S. Bureau of Safety and Environmental Enforcement (BSEE).
The hurricane prompted energy companies to evacuate workers from dozens of offshore platforms. As a result, 408,830 barrels per day of oil and nearly 201 million cubic feet per day of natural gas have been shut in, BSEE reported Friday.
Rafael, carrying winds of 100 mph, was positioned in the central Gulf and expected to linger in the area for several days, according to the National Hurricane Center. The storm is expected to gradually weaken, though it continues to pose a serious threat to the Gulf’s energy infrastructure.
Energy research firm Earth Science Associates estimates the storm will ultimately curb offshore production by about 2 million barrels of oil and 1.1 billion cubic feet of natural gas.
In response, major oil companies including BP, Chevron, Equinor, and Shell evacuated personnel from offshore platforms, halting some oil and gas operations. Occidental Petroleum stated it was following safety protocols at its offshore facilities.
Restarting these facilities could take several days, as energy companies wait for the storm to pass and assess conditions for a safe return of workers.
Meanwhile, Colorado Avalanche tangled with the hottest team in the NHL on Thursday night and now they face another squad on a big roll to begin the season.
After losing at Winnipeg 1-0 on Thursday night, Colorado hosts the surging Carolina Hurricanes on Saturday night. Carolina has won an NHL-best eight in a row, including two in overtime, and kicks off a three-game road trip in Denver.
The Hurricanes have averaged 4.75 goals during their winning streak and have scored at least four goals in each of the past seven games.
(With Inputs from Reuters)
Catch all the Business News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.