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Louisiana Offshore Oil Port Resumes Full Operations Nearly Two Weeks After Ida

Reuters
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September 10, 2021

HOUSTON, Sept 10 (Reuters) – The Louisiana Offshore Oil Port (LOOP), the largest U.S. privately owned deepwater crude terminal, has fully reopened its marine operations for imports and exports, a spokesperson said on Friday.

The facility closed on Aug. 28 ahead of Hurricane Ida, which caused extensive damages to U.S. Gulf of Mexico oil production and processing. More than two-thirds of oil production was shut-in on Friday.

There were no vessels docked at the port on Friday, the spokesperson said. However, at least one tanker, the very large crude carrier Arsan, has been waiting since Tuesday to load crude bound for Asia, according to Refinitiv Eikon vessel tracking data.

The largest U.S. offshore producer, Royal Dutch Shell , on Thursday declared force majeure on numerous contracts, leaving at least two cargoes of sour Mars crude oil canceled.

China and South Korea had stepped up purchases of Gulf-produced crude in recent months and now face lengthy delays before shipments arrive. LOOP is one of the largest terminals used for exporting Mars crude, produced in the U.S. Gulf, to Asian clients. (Reporting by Gary McWilliams; Editing by Steve Orlofsky)

(c) Copyright Thomson Reuters 2021.

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