Investing
Gulf Oil Production About 80% Shut-In Due to TS/Hurricane Isaac
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The Bureau of Safety and Environmental Enforcement (BSEE) Hurricane Response Team reported earlier that some 78% of crude oil and 48.3% of the natural gas production has been shut-in by Tropical Storm Isaac (soon to be Hurricane Isaac). As of 3:00 PM EST this probably became 80% of oil and over 50% of that natural gas production. There are many other companies of course which are affected, but this has companies such as BP plc (NYSE: BP), Exxon Mobil Corp. (NYSE: XOM), Chevron Corp. (NYSE: CVX), Apache Corp. (NYSE: APA), and Royal Dutch Shell PLC (NYSE: RDS-A) all on watch.
As a reminder, here is a map of the oil and gas offshore infrastructure tracked by NOAA:
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