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Hurricane disruption to oil and gas output grows, some energy ports reopen
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Hurricane disruption to oil and gas output grows, some energy ports reopen
Sep 13, 2024 12:34 PM

HOUSTON, Sept 12 (Reuters) - U.S. energy producers on

Thursday were assessing the extent of damage from Hurricane

Francine to their U.S. Gulf of Mexico infrastructure while

export ports in southern Texas began to reopen.

Hurricane Francine hit the Louisiana coast with up to 100

mile per hour winds (161 kph), knocking out power to 375,000

customers and bringing heavy rains and flooding to the state.

Francine's winds dropped quickly and it was over southern

Mississippi early Thursday where another 54,000 customers were

without power.

The extent of Francine's impact on energy production began

to emerge with new, higher estimates of lost output from the

more than 171 offshore platforms evacuated. Woodside Energy ( WDS ) also

shut output at an offshore platform due to a power loss onshore.

The storm likely disrupted about 1.5 million barrels of Gulf

of Mexico production, analysts at UBS estimated, and will reduce

the region's monthly oil production by 50,000 barrels a day.

U.S. oil futures on Thursday rose 1.7% on the production

losses, and natural gas prices slumped less than 1% in early

trading as liquefied natural gas export plants were spared the

brunt of Francine.

Top U.S. oil and fuel export ports from south to central

Texas reopened. Corpus Christi, the largest oil export port by

volume, lifted restrictions, while ports in Freeport, Houston to

as far north as Sabine reopened, the U.S. Coast Guard said.

Louisiana ports including Cameron, Lake Charles, New

Orleans, Plaquemines, St. Bernard and sections of the

Mississippi River remained closed, according to the Coast Guard.

The closures were affecting energy, agricultural and metals

exports.

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