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Daily Report on Hurricane Impacts on U.S. Energy           


Hurricane Impacts on the U.S. Oil and Natural Gas Markets


As of Tuesday, September 20, 3:00 pm

Shut-in Status
Date
Shut-in Oil
(bbl/d)
% of Total
Federal GOM
Shut-in Gas
(mmcf/d)
% of Total
Federal GOM
  9/20/2005
877,275
56.2%
3,482
33.5%
  9/19/2005
837,648
53.6%
3,375
32.5%
  9/16/2005
840,921
53.8%
3,384
32.5%
  9/15/2005
842,091
53.9%
3,411
32.8%
  9/14/2005
843,725
54.0%
3,518
33.8%
  9/13/2005
846,720
54.2%
3,720
35.8%
  9/12/2005
860,636
55.1%
3,784
36.4%
source: Minerals Management Service

graph of shut-in oil & natural gas production comparison of hurricanes Katrina & Ivan
figure data

Prices
graph of oil and gas prices
figure data

graph of nymex futures for gasoline & deisel
figure data

NYMEX Futures Prices 9/20/2005 9/19/2005 change Week Ago
9/13/2005
Year Ago
9/20/2004
  WTI Crude Oil ($/Bbl)
66.23
67.39
-1.16
63.11
46.35
  Gasoline (c/gal)
197.66
204.27
-6.61
189.16
127.45
  Heating Oil (c/gal)
201.13
203.84
-2.71
184.02
126.59
  Natural Gas ($/MMBtu)
12.49
12.66
-0.17
10.76
5.25

On September 19, EIA released the weekly Gasoline and Diesel Fuel Update. As of September 18, the average weekly retail gasoline price decreased to $2.79 (down 16.9 cents from the previous week). Diesel fuel prices decreased 11.5 cents to $2.73.

Petroleum
Yesterday, the Department of Energy approved a seventh loan request for crude oil from the Strategic Petroleum Reserve (SPR), bringing the total loaned volume to 13.2 million barrels. The seventh request went to Total Petrochemicals USA, Inc., for 600,000 barrels of sour crude.

OPEC released a press statement today announcing that it will make available roughly 2 million barrels per day (bbl/d) of spare capacity from its member countries, should it be called for, for a period of three months starting October 1, 2005. OPEC's next meeting is December 12, 2005, at which time it will review market developments.

According to current National Hurricane Center estimates of Hurricane Rita's path, the storm will make landfall somewhere on the central coast of Texas early Saturday morning. In its 2 PM update, the Hurricane Center noted that the maximum sustained winds had reached 100 miles per hour, making it a Category 2 hurricane.

Entergy reports that Hurricane Rita could potentially impact the speed of Katrina restoration activities in Louisiana if resources have to be redirected elsewhere.

According to Chevron, it has repaired a hurricane-damaged product berth at its Pascagoula, MS, refinery and is now transporting refined product from Pascagoula to its Collins, MS, terminal and to the Plantation Pipeline for delivery to terminals and markets in the southeastern United States. Assessments of the refinery itself continue.

 

Map of Hurricane Katrina's Path showing oil rigs & refineries.                                           Click to see larger version.
                                                map courtesy of iMapData Inc.

Gulf of Mexico Oil & Natural Gas Facts
Energy Information Administration
Data as of June 2005 unless otherwise noted.

Gulf of Mexico
Total U.S.
% from
Gulf of Mexico
Oil (million barrels per day)
  Federal Offshore Crude Oil Production (4/05)
1.562
5.488
28.5%
  Total Gulf Coast Region Refinery Capacity (as of 1/1/05) 
8.068
17.006
47.4%
  Total Gulf Coast Region Crude Oil Imports
6.490
10.753
60.4%
    - of which into ports in LA, MS and AL
2.524
10.753
23.5%
    - of which into LOOP
0.906
10.753
8.5%
Natural Gas (billion cubic feet per day)
  Federal Offshore Marketed Production (3/05)
10.4
54.1
19.2%

News & Recent Reports
DOE Office of Electricity Delivery & Energy Reliability hurricane situation reports
Department of Interior Minerals Management Service

Related EIA Data Releases
Weekly Petroleum Status Report Released after 10:30 a.m. (Eastern time) on Wednesdays except on holiday weeks (release delayed one day).
U.S. Gasoline and Diesel Prices Released after 5:00 p.m. (Eastern time) on Mondays except on holiday weeks (released on Tuesday).
Weekly Natural Gas Storage Report Released between 10:30 a.m. and 10:40 a.m., (Eastern time) on Thursdays.
Short Term Energy Outlook
Next release, October 12, 2005, 12:00 p.m. Noon (Eastern time).


References
Louisiana Oil Profile
Louisiana Natural Gas Summary
Mississippi Oil Profile
Mississippi Natural Gas Summary
Alabama Oil Profile
Alabama Natural Gas Summary


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