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.



Türkiye Receives Waiver for Gas Payments to Russia from Gazprombank Sanctions

A view shows a board with the logo of Gazprombank at the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg, Russia June 5, 2024. REUTERS/Anton Vaganov/File Photo
A view shows a board with the logo of Gazprombank at the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg, Russia June 5, 2024. REUTERS/Anton Vaganov/File Photo
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Türkiye Receives Waiver for Gas Payments to Russia from Gazprombank Sanctions

A view shows a board with the logo of Gazprombank at the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg, Russia June 5, 2024. REUTERS/Anton Vaganov/File Photo
A view shows a board with the logo of Gazprombank at the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg, Russia June 5, 2024. REUTERS/Anton Vaganov/File Photo

Türkiye has received an exemption for gas payments to Russia after the United States imposed sanctions on Gazprombank, Turkish Energy Minister Alparslan Bayraktar revealed in response to a question from Reuters.

The US imposed new sanctions on Russia's Gazprombank in November, creating an obstacle for buyers of Russian gas, which had been using the bank to make payments. They have since been seeking clarification and exploring other ways to pay.

Türkiye imports almost all its gas requirement and Russia is the top supplier, providing more than 50% of the country's pipeline imports.

Ankara's pipeline gas imports from Russia stood at 21.1 bcm last year.

Türkiye had requested an exemption in discussions with US officials so that it can continue paying for Russian natural gas imports via Gazprombank.

The US on Thursday also granted a waiver to Hungary, which mainly relies on Russian oil and gas.