Shell’s Storm Damage Pinches One-Sixth of U.S. Gulf Oil
- Almost 300,000 barrels of daily output offline until 2022: BI
- Key offshore facility suffered ‘significant structural damage’
The Royal Dutch Shell Plc Norco refinery ahead of Hurricane Ida in Norco, Louisiana, on Aug. 28.
Photographer: Luke Sharrett/BloombergThis article is for subscribers only.
Royal Dutch Shell Plc warned that production from two of its largest U.S. Gulf of Mexico fields won’t resume until next year after Hurricane Ida inflicted “significant structural damage.”
The outage for the biggest oil producer in the U.S. sector of the Gulf will disrupt about 300,000 barrels of daily production capacity, according to Bloomberg Intelligence, or one out of every six barrels pumped in the region. The disruption is forcing refiners and other buyers to seek alternative supplies.