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Share Price: 510.40
Bid: 509.40
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Change: -5.40 (-1.05%)
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Open: 516.30
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UPDATE 3-U.S. Gulf Coast prepares for second hurricane in a month

Sun, 13th Sep 2020 20:08

(Updates with latest details on storm speed and location, new
oil facility closures in Gulf of Mexico)

HOUSTON, Sept 13 (Reuters) - Tropical Storm Sally
strengthened off the west coast of Florida on Sunday and was
poised to become a category 2 hurricane, bringing the threat of
dangerous storm surges and high winds to the U.S. Gulf Coast,
the National Hurricane Center (NHC) said.

The storm track was disrupting oil production in the U.S.
Gulf of Mexico for a second time in less than a month. The
Miami-based NHC said the storm was likely to reach hurricane
strength on Monday, and approach the north-central Gulf Coast
late on Monday and Tuesday.

Hurricane conditions were expected by early Tuesday from
Grand Isle, Louisiana to Ocean Springs, Mississippi, including
New Orleans, the center said.

Louisiana Governor John Bel Edwards said he had spoken
earlier in the day to U.S. President Donald Trump and had also
requested a federal declaration of emergency in advance of
Sally, which allows for early support from the federal
government.

"We have every reason to believe that this storm represents
a very significant threat to the people of southeast Louisiana,"
Bel Edwards told a news conference.

As of 4 p.m. CDT (2100 GMT), Sally was about 165 miles (265
km) south of Panama City, Florida, and heading west-northwest
with top sustained winds of 60 miles per hour (95 kph).

Sally is expected to become a category 2 hurricane with
100-mile-per-hour (161-kph) winds by the time it makes landfall
in southeast Louisiana on Tuesday, an official with the U.S.
National Weather Service said.

"VERY, VERY HEAVY RAINFALL"

Sally carried the danger of storm surges - when the ocean
rises at the coast over normal tide levels - of up to 11 feet
(3.35 m), and rainfall of up to 12 inches (30 cm), the center
said.

"The biggest issue here is going to be life-threatening
storm surge and then the very, very heavy rainfall that's going
to accompany this," said Jim Foerster, chief meteorologist for
DTN, an energy, agriculture and weather data provider.

The storm follows Laura, which rampaged across the Gulf of
Mexico three weeks ago and grew into a Category 4 hurricane with
150 mph (240 kph) winds. It shut hundreds of offshore oil
facilities, leveled coastal Louisiana towns and left residents
of Louisiana and Texas without power for weeks.

On Sunday, two more oil companies, BP Plc and Equinor
ASA, evacuated staff from some offshore platforms
following similar action by Chevron Corp and Murphy Oil
Corp on Saturday.

BP said it evacuated non-essential workers from its Nakika
and Thunderhorse platforms in the northeastern Gulf of Mexico,
while Equinor shit its Titan platform.

Laura halted up to 1.5 million barrels per day of output and
a half dozen refineries, two of which are still in the process
of making repairs.

Mandatory evacuation was also ordered in parts of Louisiana
on Sunday.

Further off in the Atlantic Ocean, Hurricane Paulette was
moving closer to Bermuda, and was expected to move near or over
the island on Monday morning, the NHC said. Paulette was
carrying top sustained winds of 75 mph (120 kph) and was
expected to strengthen during Sunday.

(Reporting by Gary McWilliams
Additional reporting by Joshua Franklin in Boston
Writing by Frances Kerry
Editing by Susan Fenton, Nick Zieminski and Diane Craft)

More News
6 Feb 2024 12:10

LONDON MARKET MIDDAY: BP tops FTSE 100 index on buyback promise

(Alliance News) - The FTSE 100 was higher at midday Tuesday, despite lingering unease in equity markets on US interest rate worries, while BP led the way among London's large-caps as it announced a buyback plan.

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6 Feb 2024 09:04

TOP NEWS: BP promises buybacks and hikes dividend despite profit fall

(Alliance News) - BP PLC on Tuesday reaffirmed it is sticking to its commitment to share buybacks despite reporting a profit decline amid a fall in oil prices.

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6 Feb 2024 08:53

LONDON MARKET OPEN: BP jumps after unveiling share buyback

(Alliance News) - The FTSE 100 in London opened higher on Tuesday, with oil major BP at the top of the index, thanks to its new share buyback programme.

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6 Feb 2024 07:47

LONDON BRIEFING: BP promises buyback despite drop in profit

(Alliance News) - Stocks in London are called to open higher, ahead of a slew of construction purchasing managers' index readings from the eurozone, the UK and Germany.

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6 Feb 2024 07:02

BP unveils $1.75bn buyback as 2023 profits halve on weaker oil price

(Sharecast News) - Shares in BP surged on Tuesday as the energy giant announced a $1.75bn share buyback despite a slump in annual profits as oil prices fell during 2023 from the spike caused by Russia's invasion of Ukraine.

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2 Feb 2024 17:12

LONDON MARKET CLOSE: Stocks mixed as US jobs data dashes rate cut hope

(Alliance News) - Stock prices in London closed mixed, after hotter-than-expected US jobs data hit already precarious investor sentiment and all but ensured the Federal Reserve will not be cutting interest rates next month.

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2 Feb 2024 13:14

BP appoints Kate Thomson as its permanent finance chief

(Sharecast News) - BP announced the appointment of Kate Thomson as its new, permanent chief financial officer on Friday, effective immediately.

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2 Feb 2024 12:27

TOP NEWS: BP promotes Kate Thomson as permanent finance chief

(Alliance News) - BP PLC on Friday named Kate Thomson as its permanent chief financial officer, after being in the interim role since September.

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2 Feb 2024 12:09

LONDON MARKET MIDDAY: Airlines up but oil falls on Middle East talks

(Alliance News) - Stock prices in London were higher at midday Friday, ahead of the afternoon's US jobs data, as earnings from tech behemoths overnight lifted investor morale.

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2 Feb 2024 08:54

LONDON MARKET OPEN: European stocks lifted on Wall Street's gains

(Alliance News) - Stock prices in London opened higher on Friday, closing of a busy week of monetary policy decisions.

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1 Feb 2024 17:03

LONDON MARKET CLOSE: Stocks down on hawkish BoE interest rates hold

(Alliance News) - Stock prices in London closed down on Thursday after the Bank of England left interest rates on hold in a split decision that was hawkish on expectations of rate cuts.

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1 Feb 2024 12:22

LONDON MARKET MIDDAY: BoE keeps bank rate on hold in split decision

(Alliance News) - London's FTSE 100 was on the up on Thursday afternoon after the Bank of England left interest rates on hold on Thursday, in a split decision.

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1 Feb 2024 10:06

New UK oil and gas exploration licences approved in the North Sea

(Alliance News) - The UK's oil and gas regulator has awarded 24 new exploration licences to 17 separate companies in a move that has been welcomed by a trade body but condemned by climate campaigners.

Read more
1 Feb 2024 08:50

LONDON MARKET OPEN: Shells begins USD3.5 billion buyback; eyes on BoE

(Alliance News) - Stock prices in London opened mixed, ahead of the Bank of England's first interest rate decision of the year.

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30 Jan 2024 15:28

UK earnings, trading statements calendar - next 7 days

Wednesday 31 January 
Aberforth Smaller Companies Trust PLCFull Year Results
abrdn Private Equity Opportunities Trust PLCFull Year Results
Ecora Resources PLCTrading Statement
GSK PLCFull Year Results
ITM Power PLCHalf Year Results
NWF Group PLCHalf Year Results
Thursday 1 February 
Airtel Africa PLCTrading Statement
AG Barr PLCTrading Statement
BT Group PLCTrading Statement
Cranswick PLCTrading Statement
Gem Diamonds LtdTrading Statement
Glencore PLCTrading Statement
JTC PLCTrading Statement
Rank Group PLCHalf Year Results
Shell PLCFull Year Results
TClarke PLCTrading Statement
Friday 2 February 
YouGov PLCTrading Statement
Monday 5 February 
Home REIT PLCTrading Statement
Porvair PLCFull Year Results
Trident Royalties PLCTrading Statement
Vodafone Group PLCTrading Statement
Tuesday 6 February 
Alumasc Group PLCHalf Year Results
BP PLCFull Year Results
Filtronic PLCHalf Year Results
Mattioli Woods PLCHalf Year Results
Renishaw PLCHalf Year Results
Virgin Money UK PLCTrading Statement
  
Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

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