BP shutting in all Gulf production ahead of tropical storm


As Gulf coast states prepare for the advance of tropical storm Karen, BP says it is shutting in all of its oil and natural gas production in the deepwater Gulf of Mexico, and Anadarko (APC) says it has removed all workers and shut in all production at its eastern Gulf facilities.

Last year, BP produced 214K bbl/day from the Gulf, making it the largest producer in the region.

Shell (RDS.A, RDS.B), Exxon (XOM), Chevron (CVX), Marathon Oil (MRO) and Murphy Oil (MUR) are all removing non-essential workers from their offshore facilities.

Seven major refineries with a combined capacity of 1.8M bbl/day - ~10% of the U.S. total - are in Karen's path; Phillips 66 (PSX) and Valero (VLO) say they're continuing to monitor the storm's progress.

Crude oil price gains remain subdued, as WTI +0.2% to $103.50/bbl and Brent +0.1% to $109.07.

ETFs: OIL, USO, DBO, OLO, USL, CRUD, UCO, DTO, SCO, SZO, DNO, UWTI, DWTI, BNO, UOIL, DOIL.

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Comments (4)
  • smurf
    , contributor
    Comments (6151) | Send Message
     
    Watch the price at the pumps escalate.

     

    God forbid we should have gasoline under $3/gal.
    4 Oct 2013, 02:44 PM Reply Like
  • outofhere
    , contributor
    Comments (3694) | Send Message
     
    smurf
    gas in Round Rock, TX Exxon is at 299.9 yesterday

     

    I know my NYC friend are gritting their teeth.
    4 Oct 2013, 04:18 PM Reply Like
  • deercreekvols
    , contributor
    Comments (9504) | Send Message
     
    $3.89 in Western NY. Not gritting teeth as price is always $0.10-0.25 higher than the national average. $3.40 at Native American (Seneca) stations.
    5 Oct 2013, 10:57 AM Reply Like
  • outofhere
    , contributor
    Comments (3694) | Send Message
     
    deercreekvols

     

    The reason the northeast pays more is the damn taxes. I don't mind paying taxes if they actually used the taxes for the roads. Down here the tolls are used for roads not commuters like in NYC.
    5 Oct 2013, 12:20 PM Reply Like
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