Published on August 26, 2017
Oil and natural gas infrastructure along the Gulf of Mexico are predictable to shut and as a result of Hurricane Harvey at the Texas Gulf Coast. Texas Gulf Coast is a region that accounts for nearly 20% of total crude oil output and nearly one-third of domestic refining capacity. Gas prices fell on account of minimal trading activity.
Texas offshore gas production settled firm from Friday, as it looked like Harvey was starting to chip away at Louisiana production as some operators were shutting operations from both their offshore and onshore rigs in preparation for a long few days.
As per report, Most operators of platforms off the Texas Gulf Coast, as well as some onshore producers in South Texas had previously announced shut-ins.
