Power and oil-and-gas production are starting to come back after Hurricane Ida, but there’s a long way to go, Axios reports.
According to the Interior Department, roughly 80% of Gulf of Mexico crude oil production and 83% of gas production was shut-in as of yesterday.
Right before Ida, almost all Gulf output was offline as companies shut down facilities and evacuated workers.
Damage assessments at area refiners are still ongoing, and S&P Global Platts writes that more than 2 million barrels per day or refining capacity is offline as of Wednesday. ExxonMobil has begun restarting its Baton Rouge refinery, but it can take days to get production back to normal levels.
The biggest question is how offshore oil-and-gas producers will deal with the extensive damage to Port Fourchon, a key industry hub and staging area. Read the full story.