Offshore drawdown in face of storm

HOUSTON - Exxon Mobil Corp and Anadarko Petroleum Corp joined several other U.S. oil producers withdrawing staff from deepwater platforms in the Gulf of Mexico as a major storm begins to churn Gulf’s waters. The withdrawals helped push oil futures up 3.8% to more than $60 a barrel, and lifted gasoline prices. The GoM produces 17% of U.S. crude oil and 5% of natural gas. A tropical depression has a potential to strengthen to a hurricane by the weekend. Exxon evacuated non-essential staff from three platforms in the Gulf, but anticipates little effect on production, spokesperson Julie King told Reuters. Anadarko is stopping oil and gas production and removing workers from four facilities. Royal Dutch Shell expanded offshore evacuations to seven platforms and shut more production. The Louisiana Offshore Oil Port (LOOP), the only U.S. port where the largest crude tankers can load and unload, was normal July 10. Oil refiners Motiva Enterprises and Marathon Petroleum were monitoring the storm and prepared to implement hurricane plans. Chevron, Phillips 66, and Exxon were preparing for heavy rain and winds. Exxon reported operations at its Gulf refineries normal July 10. Chevron shut production at five platforms and has begun to evacuate all workers at those facilities. BP is shutting production at four Gulf platforms, which produce more than 300,000 barrels of oil equivalent per day. BHP Group was removing staff from two offshore energy platforms. Independent offshore producers Fieldwood Energy and LLOG Exploration declined comment. (Source: Reuters 07/10/19)