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The approach of Tropical Storm Gordon halted some energy production in the U.S. Gulf of Mexico on Tuesday, but its latest path is expected to miss most of the energy infrastructure in the region. The storm, which is expected to strengthen into a Category 1 hurricane with winds of at least 119 km/hour has shifted eastward, reducing its threat to producers on the western side of the Gulf of Mexico and to most Gulf Coast refineries. According to estimates on Tuesday by the U.S. Bureau of Safety and Environmental Enforcement, companies had evacuated 54 offshore platforms, halting 156,907 bpd of oil production and 232 million cubic feet per day of natural gas output. This accounted for about 9% of U.S. Gulf of Mexico oil and gas production. Offshore oil production accounts for 17% of total U.S. oil production and 5% of U.S. natural gas production.

India has given permission to state-owned refiners to import oil from Iran using Iranian tankers and insurance, after the biggest Indian shipping company backed out of Iran voyages due to the U.S. sanctions, in a sign that India may not cut off Iranian oil imports after the sanctions return. India’s shipping ministry has allowed state refiners to import Iranian oil on the so-called cost, insurance, and freight (CIF) basis, under which Iran would provide the shipping and the insurance for the oil cargoes. 

 

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