Nearly 30% of US Gulf of Mexico Oil Output Offline after Storm

Cars drive off of Interstate 10 in Laplace, La., on Friday, Sept. 13, 2024, as floodwater still covers the roadway two days after Hurricane Francine swept through the area. (Chris Granger/The Times-Picayune/The New Orleans Advocate via AP)
Cars drive off of Interstate 10 in Laplace, La., on Friday, Sept. 13, 2024, as floodwater still covers the roadway two days after Hurricane Francine swept through the area. (Chris Granger/The Times-Picayune/The New Orleans Advocate via AP)
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Nearly 30% of US Gulf of Mexico Oil Output Offline after Storm

Cars drive off of Interstate 10 in Laplace, La., on Friday, Sept. 13, 2024, as floodwater still covers the roadway two days after Hurricane Francine swept through the area. (Chris Granger/The Times-Picayune/The New Orleans Advocate via AP)
Cars drive off of Interstate 10 in Laplace, La., on Friday, Sept. 13, 2024, as floodwater still covers the roadway two days after Hurricane Francine swept through the area. (Chris Granger/The Times-Picayune/The New Orleans Advocate via AP)

Nearly 30% of US Gulf of Mexico crude oil production and 41% of its natural gas production remained offline on Saturday following Hurricane Francine, the US offshore energy regulator said.

There was more than 522,000 barrels of oil production per day and 755 million cubic feet of natural gas offline due to the storm, the Bureau of Safety Engineering and Enforcement said.

There were 52 oil and gas platforms unmanned by energy workers, down from 171 evacuated platforms at its peak earlier in the week.

The storm, which drew fuel from exceedingly warm Gulf of Mexico waters, came ashore Wednesday in Louisiana with 100 mph (160 kph) winds and drenched a large swath of the South, including parts of Arkansas and Florida. Forecasters say the storm's slow progress will mean days of heavy rain in the Southeast, creating a flash flooding risk.

Another 3 to 6 inches (8 to 15 centimeters), with about 8 inches (20 centimeters) in some locations, were expected in parts of central and northern Alabama through Sunday. In northeastern Mississippi, western Tennessee, western Georgia and the Florida Panhandle, another 2 to 4 inches (5 to 10 centimeters) was expected.

No deaths or serious injuries have been reported in Francine's aftermath.



Madinah Investment Forum to Kick Off on Sunday

Madinah Investment Forum to Kick Off on Sunday
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Madinah Investment Forum to Kick Off on Sunday

Madinah Investment Forum to Kick Off on Sunday

The Madinah Investment Forum, organized by Al-Madinah Al-Munawwarah Chamber under the theme "Invest in Madinah", will start on Sunday and run for two days.
The forum consists of a diverse range of programs, events, and four specialized dialogue sessions focusing on key aspects of the national investment strategy. It will host 18 speakers and more than 40 entities, and present 200 investment opportunities, valued at over SAR57 billion, in more than ten targeted sectors, SPA reported.
The event will highlight Madinah's significant achievements and showcase development and investment projects in the region. It will explore promising investment sectors, comparative and competitive advantages, and the region's potential to support investment growth. Key areas of focus include hospitality, logistics, agriculture, and real estate.
The forum's objectives include identifying investment opportunities in Madinah, fostering investment partnerships, attracting new investments, and introducing financing solutions and business sector services for major development projects.
The event is aimed at a broad audience, including local and international investors, government agencies, development organizations, private sector representatives, investment agencies, financial institutions, consulting firms, and professional service providers.