Katrina Fact Sheet
Update as of: 12 Sep 2005 / 1137 am EDT / 1537 GMT
 

TOP HEADLINES:

! Valero Energy Monday said its 260,000 b/d St. Charles, Louisiana, refinery had returned to full rates over the weekend.

! Tanker offloading at the Louisiana Offshore Oil Port (LOOP) is close to normal Monday, although capacity remains restricted, the Louisiana Department of Transportation said. LOOP handles 35-40 ships/month. Its maximum capacity is 80,000 bbl/hour or 1.92-mil b/d.

! Newfield Exploration said 90% of its operated Gulf of Mexico production had been restored, leaving about 60,000 Mcfe/d still down. Since output in the area was halted Aug 27 before Katrina, Newfield has had about 2.6 Bcfe of its Gulf net output shut in.

! Hurricane Katrina and subsequent high oil prices will hit world growth in the third quarter, G10 central bankers said Monday, but the global economy is "quite dynamic" and should rebound in the fourth quarter, ECB chief Jean-Claude Trichet said in Basel, Switzerland.

! Valero Energy, the largest US refiner, said Friday it would delay where it can any upcoming maintenance at its refineries to avoid adding to production shortfalls in the wake of Hurricane Katrina.

! Port of New Orleans President and CEO Gary LaGrange said Friday commercial operations should resume at the port by Sep 14 at about 10% to 15% capacity. "We're looking to be 100% within six months," he told Platts.

! The California Air Resources Board Friday relaxed the state's gasoline volatility standard in September and October in
response to anticipated gasoline supply shortfalls attributable to Hurricane Katrina.

! Shell Friday said its Motiva joint venture has begun to restart its 240,000 Norco refinery in Louisiana that had been idled for almost two weeks due to Hurricane Katrina. The plant will be gradually brought up to full production "over the next couple of days," Shell said in a statement. The company also said Motiva's 225,000 b/d Convent refinery in Louisiana is currently operating at 90% of capacity.

PRODUCTION SHUT-INS

! The US Minerals Management Service said Friday 898,161 b/d of US Gulf of Mexico crude production was shut in, or 59.88% of normal output of 1.5-mil b/d. That is down from 901,726 b/d, or 60.1%, on Thursday. The amount of natural gas curtailed declined to 3.8286 Bcf/d, or 38.29% of typical production of 10 Bcf/d. That is down from Thursday's 4.020 Bcf/d, or 40.2%.

REFINERY CLOSURES

Four large refineries, representing almost 900,000 b/d of refining capacity, remain idled:

! Chevron; 325,000 b/d refinery in Pascagoula, Mississippi

! ConocoPhillips; 250,000 b/d Alliance refinery in Belle Chasse, Louisiana. The company has so far given no indication when it expects to reopen the refinery, believed flooded by Katrina. The Department of Energy Sep 9 said the plant sustained "major damage" in the storm. According to a Deutsche Bank analysts report Sep 8, the refinery, which the report said is below sea
Daily status report on energy industry recovery efforts in the US Gulf level, is likely to be down for months due to flooding, electrical damage and other problems.

! ExxonMobil/PDVSA; 187,000 b/d Chalmette refinery in Louisiana. The company on Sep 7 said it would take "several weeks" to complete a damage assessment of the refinery, after which time it would have a better idea when it could restart the plant.
! Murphy Oil; 125,000 b/d refinery in Meraux, Louisiana. The company said on Sep 6 it would take "a couple of months" to restart the plant, which was flooded by Katrina.

SPR LOANS TOTAL 12.6-mil BBL
The following companies have been granted loans of crude from the US Strategic Petroleum to help ease a supply crunch in the wake of Katrina:

! ExxonMobil: up to 6-mil bbl (3-mil bbl sweet, 3-mil bbl sour), for its refinery in Baton Rouge, Louisiana. The DOE said the company had received two shipments totaling 610,000 bbl. The rest had not yet been scheduled, DOE said

! BP: 2-mil bbl for refineries in Toledo, Ohio, and Whiting, Indiana. DOE says deliveries were scheduled to begin Sep 9. The company has indicated that it may not take all the volume loaned to them.

! Marathon Oil: 1.5-mil bbl. Some 500,000 bbl has been delivered. The company is "evaluating" whether to take the rest.

! Valero Energy: 1.5-mil bbl of sweet crude for its refineries in Krotz Springs, Louisiana; Memphis, Tennessee; and Lima, Ohio.