A Review of the Nigerian Energy Industry

US Gulf production rebounds after Karen 

Operators return to US Gulf after Hurricane Isaac09 October 2013, News Wires – US oil and gas output and operations were almost back to normal on Tuesday after companies had pulled workers and shut in production on Tropical Storm Karen, which failed to pack a punch when it made landfall over the weekend.

Only 17 platforms – or about 3% of such structures in the Gulf of Mexico – remained evacuated while all drilling rigs were fully restaffed, according to updated information from the US Bureau of Safety and Environmental Enforcement (BSEE).

Only 6.5% of the US Gulf oil production, about 90,953 barrels per day, remained offline.

Just over 2% of the area’s natural gas output, or 81 million cubic feet per day, was still restricted.

Crude oil prices on both sides of the Atlantic rose on Tuesday as geopolitical risk crept back into the markets and new hopes emerged that the US would reach a budget deal and call off a government shutdown, Reuters reported.

Brent rose $0.71 to $110.39 a barrel by 1:26 pm, after earlier posting gains of over $1, according to the news wire.

US oil rose $0.75 to $103.78, after earlier gaining over $1.

– Upstream

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