Black Friday is Now! Don’t miss out on up to 60% OFF InvestingProCLAIM SALE

Oil leak affecting U.S. offshore output contained at port station, Shell says

Published 2022-08-11, 02:46 p/m
© Reuters. FILE PHOTO: Shell logo and stock graph are seen in this illustration taken May 1, 2022. REUTERS/Dado Ruvic/Illustration
RDSa
-
CL
-
MNBP
-

(This Aug. 11 story corrects headline to reflect location of oil leak)

By Arathy Somasekhar and Laila Kearney

HOUSTON (Reuters) - Top U.S. Gulf of Mexico oil producer Shell (LON:RDSa) said on Thursday it halted production at three U.S. Gulf of Mexico deepwater platforms after a leak shut two pipelines connecting the platforms, adding it expected pipeline service to resume on Friday.

A failure at an onshore pipeline junction in Louisiana leaked about two barrels of oil, said Chett Chiasson, executive director of Greater Lafourche Port Commission. A fix is expected to take about a day, he added.

A Shell spokesperson said the leak, approximately two barrels of oil, has been contained, and the company expects the Mars and Amberjack pipelines to return to service on Aug. 12.

Shell said its Mars, Ursa, and Olympus platforms were shut because of the leak. The three are designed to produce up to 410,000 barrels of oil per day combined, according to data on the company's website.

"Shell is coordinating with local authorities and mobilizing personnel and equipment to assess the situation," the company said in a statement. It did not estimate when the pipelines might resume operation.

The three platforms deliver Mars sour crude, a grade prized by oil refiners in the United States and Asia. Shell said it was evaluating "alternative flow paths" to move the oil to shore via other pipelines.

Prices for Mars sour crude strengthened to trade at a 50-cent a barrel discount to U.S. crude futures. The grade has seen volatile trading as it competes with sour barrels released from the U.S. Strategic Petroleum Reserve domestically and with cut-priced Russian Urals barrels in international markets.

© Reuters. FILE PHOTO: Shell logo and stock graph are seen in this illustration taken May 1, 2022. REUTERS/Dado Ruvic/Illustration

Shell shut the pipelines because of the leak at the onshore Fourchon booster station, it said. The station helps increase the pipeline pressure and advance crude oil flow to onshore storage facilities in Clovelly, Louisiana.

Fourchon Harbor Police Chief Michael Kinler said there was no sign of vandalism at the booster station and the amount of oil that leaked was not enough to halt traffic on the waterway or roads.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.