Comprehensive Energy Data Intelligence
Information About Energy Companies, Their Assets, Market Deals, Industry Documents and More...
Gulf Oil Operators Chevron, BP, Equinor, Shell Brace as Tropical Storm Rafael Threatens Production
11/06/2024
Oil companies across the Gulf of Mexico are springing into action as Tropical Storm Rafael bears down, marking yet another disruption in a storm-laden season. BP, Chevron, Equinor, and Shell are evacuating offshore staff and preparing for potential impacts on their platforms, an all-too-familiar ritual for Gulf operators this year.
BP has already begun evacuating non-essential personnel from key platforms like Argos, Thunder Horse, and Mad Dog. Chevron, following suit, is relocating workers from Big Foot and Petronius, while Shell is clearing out staff from platforms including Appomattox, Vito, and Enchilada-Salsa. Equinor has gone further, halting production entirely with a complete evacuation underway.
Rafael, currently packing winds of 60 mph, could intensify into a hurricane as it tracks past the Cayman Islands toward Cuba. However, the National Hurricane Center warns that Rafael might weaken back to a tropical storm before hitting the Gulf Coast. Still, companies are taking no chances given the Gulf’s experience with earlier storms this year—Francine, Helene, and Milton among them.
The potential impact is significant: Rafael could disrupt as much as 4.9 million barrels of oil and 6.39 billion cubic feet of natural gas production per day, according to Earth Science Associates. This would be the season's 17th named storm and the 10th since late September. Earlier forecasts from the Energy Information Administration had predicted as many as 25 storms, warning of record-breaking disruptions for the oil and gas industry.
Amid volatile markets driven by election uncertainties and Middle East tensions, Rafael adds fresh anxiety to already jittery energy prices. As Gulf operators and markets brace for Rafael’s impact, the season’s end feels anything but certain.
If you are looking for more information about energy companies, their assets, and energy deals, please, contact our sales office mapping@hartenergy.com, Tel. 619-349-4970 or SCHEDULE A DEMO to learn how Rextag can help you leverage energy data for your business.
Why Are Oil Giants Backing Away from Green Energy: Exxon Mobil, BP, Shell and more
As world leaders gather at the COP29 climate summit, a surprising trend is emerging: some of the biggest oil companies are scaling back their renewable energy efforts. Why? The answer is simple—profits. Fossil fuels deliver higher returns than renewables, reshaping priorities across the energy industry.
Blockchain as a technology for smart contracts in O&G
The oil and gas industry has long relied on the recommendations of trusted experts to make key supply chain decisions. The growing popularity of Blockchain technology could significantly disrupt these relationships by providing an unbiased methodology for sourcing, tracking, and executing transactions on behalf of customers with transparent data sets across supply chain endpoints. Blockchain technology has already been used by many global companies in the last two years in various areas such as IoT (Internet of Things), smart contracts, and cryptocurrencies. It has enabled businesses to benefit from the inherent trust and transparency of the technology.
As world leaders gather at the COP29 climate summit, a surprising trend is emerging: some of the biggest oil companies are scaling back their renewable energy efforts. Why? The answer is simple—profits. Fossil fuels deliver higher returns than renewables, reshaping priorities across the energy industry.
The global oil market is full of potential but also fraught with challenges. Demand and production are climbing to impressive levels, yet prices remain surprisingly low. What’s driving these mixed signals, and what role does the U.S. play?
Shell overturned a landmark court order demanding it cut emissions by nearly half. Is this a victory for Big Oil or just a delay in the climate accountability movement?