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Thursday, 8 October 2026dailybeirut.com
Economy
Hurricane Isaias forces energy firms to halt offshore operations, risking a loss of 11.2 million barrels in the Gulf of Mexico.
Energy companies have suspended portions of their offshore activities and evacuated workers from production platforms as Hurricane Isaias threatens to disrupt millions of barrels of oil output in the Gulf of Mexico. Estimates indicate that approximately 11.2 million barrels could be lost during the storm's duration.
Official records show that roughly 25.08% of the region's offshore oil production, equivalent to 511,619 barrels per day, has been temporarily shut down. Additionally, 16.37% of natural gas output, or about 350.25 million cubic feet per day, is offline, with personnel evacuated from eight production platforms. These figures represent temporary suspensions rather than permanent losses, as operations may resume after the storm passes and facilities undergo inspection.
Earth Science Associates projects total oil production losses during the hurricane at nearly 11.2 million barrels. This contrasts with approximately 7.1 million barrels lost during Tropical Storm Bertha in July, according to Reuters.
Protective measures extended to major producers. Shell halted production and evacuated staff from the Mars, Olympus, Ursa, Vito, and Appomattox facilities, while relocating non-essential personnel from the Stones installation. Chevron began shutting down four sites but maintained operations at five others.
These actions followed Isaias intensifying into the first Atlantic hurricane of the 2026 season. The storm features winds reaching approximately 75 mph (120 kph), with its center located about 460 miles (745 km) south-southwest of the Mississippi River delta, reported Reuters.
The hurricane is moving toward the US Gulf Coast, bringing expectations of heavy rainfall, flash floods, and high waves. Landfall near Mississippi, Alabama, or northwestern Florida is possible early Saturday.
This disruption occurs as oil markets already face supply risks from the Middle East. Consequently, Brent crude prices rose above $102 per barrel during Thursday's trading sessions.
