Gulf's Oil & Gas Giants Brace for Hurricane Beryl's Impact

July 5, 2024--Researched by Industrial Info Resources (Sugar Land, Texas)--After it ran a destructive path across the Caribbean on Tuesday and Wednesday, killing at least 10 people, Hurricane Beryl weakened from a Category 4 to a Category 2 storm. But that was cold comfort to the people in its path, and companies such as Shell plc (NYSE:SHEL) (London, England) and Chevron Corporation (NYSE:CVX) (San Ramon, California) are taking measures to protect their personnel and assets in Beryl's next target--the Gulf of Mexico.

Industrial Info is tracking more than $44 billion worth of active and proposed oil and gas projects in the Gulf of Mexico. The NHC expects to see dangerous hurricane-force winds, a storm surge of four to six feet, and damaging waves across the Yucatan Peninsula throughout Friday. Industrial Info is tracking more than US$27.4 billion worth of active projects in the Mexican states that are most likely to be affected by Beryl.

Other companies featured: BP plc (NYSE:BP), Valero Energy Corporation (NYSE:VLO), Flint Hills Resources and CITGO Petroleum Corporation