SerpApi.Org
Chevron (CVX) said Monday it is shutting-in production at its Petronius facility in the U.S. Gulf, and moving all associated personnel onshore in preparation for Tropical Depression Two, and will transport non-essential personnel from its Tubular Bells and Blind Faith platforms in the Gulf while maintaining normal production.
The depression is expected to strengthen over the next two day, potentially becoming Tropical Storm Bertha later on Monday; the National Hurricane Center issued a tropical storm watch that is in effect from the Ochlockonee River in Florida westward to the Jefferson/Plaquemines Parish border in Louisiana.
As many as 2M barrels of oil could be lost across the U.S. Gulf during the storm, much more than the 10K bbl/day that were affected by Tropical Storm Arthur last month, according to a model forecast from consulting firm Earth Science Associates.
The U.S. Gulf of America federal offshore region produced nearly 2M bbl/day of crude oil in March, accounting for ~14% of total U.S. crude output, with Chevron (CVX), BP (BP), Shell (SHEL) and Occidental Petroleum (OXY) among the largest deepwater operators.
The region's refining corridor, which runs from Corpus Christi, Texas to Pascagoula, Mississippi, includes ~50% of total U.S. refining capacity of 18.4M bbl/day.
