More than 96 percent of oil production in the Gulf of Mexico has been closed as Gustav, a Category 3 hurricane, is forecast to hit the U.S. coast on Monday, according to the Department of the Interior (DOI) on Sunday.
"From the operators' reports, it is estimated that approximately 96.26 percent of the oil production in the Gulf has been shut-in," the DOI's Minerals Management Service said in a statement.
At the same time, more than 82 percent of natural gas production in the Gulf had been shut down ahead of the hurricane, it said.
Personnel have been evacuated from platforms and rigs, according to the statement.
As of Sunday afternoon, at least nine refineries with a combined capacity of 2.2 million barrels per day, were being shut along the south Louisiana coast.
Other refineries were reducing processing rates and further shutdowns were possible, said the statement.
Dangerous Gustav has already killed more than 80 people in the Caribbean, and if current forecasts hold up, it would make landfall in the U.S. coast as early as Monday.
Gustav could rival the wrath of Hurricane Katrina, some analysts believe.
Katrina, which hit the U.S. Gulf late August 2005, and Hurricane Rita, which followed Katrina, resulted in damages to more than 100 oil platforms.
The two hurricanes three years ago shut down a quarter of U.S. oil production and closed several large refineries for months.
Because of Gustav, oil prices could rise as much as 10 U.S. dollars per barrel, analysts have warned.
After the hurricane has passed, facilities will be inspected, according to the statement.
Once all standard checks have been completed, production from undamaged facilities will be brought back on line immediately. Facilities sustaining damage may take longer to bring back on line, it said.
Source:Xinhua
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