|
As of Tuesday, September 27, 5:00 pm
Shut-in Status
| Date |
Shut-in Oil
(bbl/d)
|
% of Total
Federal GOM
|
Shut-in Gas
(mmcf/d)
|
% of Total
Federal GOM |
| 9/27/2005 |
1,512,937
|
96.9%
|
7,857
|
75.5%
|
| 9/26/2005 |
1,527,630
|
97.8%
|
7,843
|
75.4%
|
| 9/25/2005 |
1,501,863
|
96.2%
|
8,047
|
77.4%
|
| 9/24/2005 |
1,500,898
|
96.1%
|
7,488
|
72.0%
|
| 9/23/2005 |
1,486,877
|
95.2%
|
7,204
|
69.3%
|
| 9/22/2005 |
1,379,000
|
88.3%
|
6,595
|
63.4%
|
| 9/21/2005 |
1,097,357
|
70.2%
|
4,713
|
45.3%
|
source: Minerals Management Service
figure
data
Prices
figure
data
figure
data
| NYMEX Futures Prices |
9/26/2005 |
9/26/2005 |
change |
Week Ago
9/20/2005 |
Year Ago
9/27/2004 |
| WTI Crude
Oil ($/Bbl) |
65.07
|
65.82
|
-0.75
|
66.23
|
49.64
|
| Gasoline
(c/gal) |
216.64
|
212.92
|
+3.72
|
197.66
|
134.63
|
| Heating Oil
(c/gal) |
206.86
|
205.86
|
+1.00
|
201.13
|
136.80
|
| Natural Gas
($/MMBtu) |
12.66
|
12.44
|
+0.22
|
12.49
|
5.26
|
Petroleum
As Hurricane Rita approached, 16 refineries along the Gulf Coast
shut down as a precautionary measure and to allow employees
to evacuate. As of today, 8 remain completely shutdown, while
8 have restarted or are attempting to restart. All of the refineries
that remain offline following Hurricane Rita are located in
the Port Arthur or Lake Charles refining centers, with the exception
of 1 refinery in Texas City. Of these 8 refineries, the ones
that are located in the Port Arthur or Lake Charles refining
centers are either expected to remain shut down for at least
2 weeks or else it is unclear when they will restart. In addition
to the 4 refineries that remain shut down following Hurricane
Katrina, the total amount of refinery capacity completely shut
down amounts to more than 2 million barrels per day. This accounts
for well more than 1 million barrels per day of gasoline, about
800,000 barrels per day of distillate fuel, and over 300,000
barrels per day of jet fuel that is not being produced as long
as these refineries remain shutdown.
On September 26, EIA released the weekly Gasoline
and Diesel Fuel Update. As of September 25, the average
weekly retail gasoline price increased to 280.3 cents per gallon
(up 1.7 cents from the previous week). Diesel fuel prices increased
6.6 cents to 279.8 cents per gallon.
Natural Gas
Over a dozen gas processing plants have confirmed that they
are off-line owing either to flooding, lack of supplies, an
inability to move stored liquids, or safety precautions (see
September
26 Report).
Tennessee Gas Pipeline has sustained supply losses of approximately
900,000 MMBtu/d on the 800 line and 500 line, not including
the 650,000 MMBtu/d that has remained shut in as a result of
Hurricane Katrina. Tennessee has confirmed a leak on the 524G-100
line from Bay Marchand 5 to Leeville. During a flight over the
Grand Chenier area, pipeline company officials said initial
damage assessments revealed moderate damage to the Starks, La.,
compressor (Station 820) and the Johnson Bayou Dehydration Plant.
Sabine Pipeline, operator of the Henry Hub, is continuing its
Force Majeure until further notice. As a result, the New York
Mercantile Exchange (NYMEX), where futures contracts are traded
for delivery to the Henry Hub, has declared a Force Majeure
for deliveries under the September contract for the rest of
the month. NYMEX is giving traders the ability to mutually agree
to execute an alternative delivery procedure. Sabine Pipeline
employees have been successful in conducting visual surveillance
of accessible portions of the Sabine system. Early reports indicate
wind damage in the vicinity of the Port Neches compressor station
and water damage at the Henry Hub facilities, according to the
company. Power remains out in most areas of the system.
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