UPDATE 2-Gulf of Mexico oil, natgas facilities shut by Ida

Mon Nov 9, 2009 11:48pm GMT
 
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* Tropical Storm Ida shuts 30 percent Gulf oil output -MMS

* Storm also closes off more than a quarter of gas

* Oil climbs $2.00 per barrel on storm threat

(Updates with outage figures, market reaction, forecasts)

HOUSTON, Nov 9 (Reuters) - Tropical Storm Ida shut 30 percent of U.S. offshore oil production and more than a quarter of natural gas output on Monday as it raced across the Gulf of Mexico, the U.S. government said.

U.S. crude oil futures on the New York Mercantile Exchange climbed $2.00 a barrel on Monday to finish at $79.43 in part due to shut production in Gulf.

Energy companies were waiting for the storm to make landfall late Monday or early Tuesday before returning workers to restart production platforms and drilling rigs in the eastern oilfields in Gulf.

Onshore, refineries had not curtailed operations due to the storm, which weakened throughout Monday from a category 2 hurricane to a tropical storm as it encountered cooler water, high windshear and dry air.

The Gulf is the source of 25 percent of U.S. domestically produced oil and 15 percent of natural gas. About 40 percent of U.S. refining capacity is located on the Gulf Coast from Corpus Christi, Texas, to Pascagoula, Mississippi.  Continued...

 

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