U.S. oil companies monitor Gulf of Mexico storm By Reuters

U.S. oil companies monitor Gulf of Mexico storm By Reuters


© Reuters.

HOUSTON (Reuters) – U.S. oil companies are monitoring the first tropical storm of the 2020 Atlantic hurricane season to threaten the offshore oil patch in the U.S.-regulated northern Gulf of Mexico.

Royal Dutch Shell Plc (L:), BP Plc (L:), Chevron Corp (N:), Exxon Mobil Corp (N:), Hess Corp (N:) and Murphy Oil (N:) were taking precautions, but not evacuating workers from offshore production platforms on Tuesday because of Tropical Storm Cristobal.

Cristobal formed Tuesday afternoon and was circulating in the Bay of Campeche off the coast of Mexico.

The U.S. National Hurricane Center forecasts the storm will cross the Gulf of Mexico to make landfall on the Louisiana coast by early next week.

Before making landfall, Cristobal will cross the major offshore oil and production areas in the Gulf.

The Gulf of Mexico is home to 19% of output and 6% of dry natural gas output daily, according to the U.S. Energy Information Administration.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *


About us

InvestLab is a financial services technology company focused on the global trading market. Founded in 2010 in Hong Kong, the company develops trading, market data, and social research products that enable individual investors and small to mid-size brokers to access global markets. We provide brokers and financial institutions cross border capabilities for retail investors into 43 markets globally.


CONTACT US

CALL US ANYTIME