Chevron shuts US Gulf platform ahead of tropical storm development

• Chevron is shutting-in the Petronius facility and moving all personnel onshore, while also removing nonessential workers from Tubular Bells and Blind Faith platforms
• Projected oil production losses of 2 million barrels are significantly higher than the 10,000 barrels impacted by a storm last month, due to more high-production platforms in this storm's path
• The Gulf region's refining corridor from Corpus Christi, Texas to Pascagoula, Mississippi holds about half of total U.S. refining capacity of 18.4 million barrels per day

Chevron Shuts Gulf Platform Ahead of Tropical Storm

Chevron has shut-in production at its Petronius facility in the U.S. Gulf of Mexico and evacuated all personnel onshore as Tropical Depression Two threatens the region. The company is also moving nonessential personnel from its Tubular Bells and Blind Faith platforms, though production at other Chevron-operated Gulf assets remains at normal levels.

Storm Impact Projections:

The system may strengthen into Tropical Storm Bertha and could result in approximately 2 million barrels of oil production losses across the U.S. Gulf—significantly higher than the 10,000 barrels impacted by a storm last month. Consulting firm Earth Science Associates attributes the larger impact to more high-production platforms in the storm's path. The National Hurricane Center expects gradual strengthening over the next two days, with rainfall of 2-4 inches (up to 8 inches in isolated areas) from western Florida to the Middle Texas Coast through Friday.

Market Context:

The U.S. Gulf of Mexico federal offshore region produced nearly 2 million barrels per day in March, representing roughly 14% of total U.S. crude output. Major operators include Shell, BP, Chevron, and Occidental Petroleum. The region's refining corridor, stretching from Corpus Christi, Texas to Pascagoula, Mississippi, accounts for approximately half of total U.S. refining capacity of 18.4 million barrels per day.

Additional Preparations:

Utility company CenterPoint Energy activated its Emergency Operations Center, preparing for potential weather-related power outages with the storm forecast to reach Greater Houston by Friday.

The production disruptions could tighten crude supplies and impact regional refining operations in the coming days.