Skip navigation

Current DateTime: 03:13:35 23 Feb 2012
LinksList Documentid: 23452764
Expiration DateTime: 2/23/2012 3:15:24 AM

Current DateTime: 03:13:35 23 Feb 2012
LinksList Documentid: 23452000
Expiration DateTime: 2/23/2012 3:15:40 AM

Current DateTime: 03:13:35 23 Feb 2012
LinksList Documentid: 24355697

MOST SHARED


Current DateTime: 03:13:35 23 Feb 2012
LinksList Documentid: 31330905
Expiration DateTime: 2/23/2012 3:15:45 AM

MOST POPULAR


Current DateTime: 03:13:35 23 Feb 2012
LinksList Documentid: 35819650
    • ETF Strategist | Fixed Income

        Exchange-traded funds are hot, but are they right four your portfolio? Learn the pros and cons of various asset classes and sectors.

HOT ON FACEBOOK

Cyclone Grows, Oilfields Shut Down Off Western Australia

Published: Friday, 27 Jan 2012 | 1:17 AM ET
Text Size
By: Reuters

Tropical Cyclone Iggy has strengthened to a category two storm and was moving towards Australia's northwest coast on Friday, threatening the region's rich mining fields after shutting down some offshore oil production facilities.   

Stocktrek Images | Getty Images

Cyclone Iggy was upgraded from a category one storm and was about 600 km (370 miles) northwest of Exmouth at 0040 GMT and  moving southeasterly, Australia's Bureau of Meteorology said on Friday. 

Category two is the second lowest of five cyclone ratings, with wind gusts at its centre of 130 km/h (80 mph), but is intensifying and is expected to become a category three storm by late Saturday, the weather bureau said in a statement on its website (www.bom.gov.au).

"Over the next 72 hours TC Iggy will steadily intensify while moving southeastwards towards the western Pilbara coast," the bureau said in its statement. 

"Strong winds, heavy rainfall and abnormally large swells will be experienced near Christmas Island, the Kimberley and Pilbara coasts."  

Companies including Rio Tinto [RIO  Loading...      ()   ] and BHP Billiton [BHP  Loading...      ()   ] have major iron ore mining operations in the Pilbara region.    

Australia's Wooside Petroleum, which suspended production at some offshore fields on Wednesday due to the storm, said on Friday it had shut oil production at its Vincent, Cossack, Wanaea, Lambert and Hermes oil fields off the northwest coast. 

Woodside's Vincent oil field produced just under 14,000 barrels per day (bpd) in 2011. 

Apache [APA  Loading...      ()   ] had also suspended some oil production, including at the Ningaloo Vision, the floating production, storage and offloading vessel that produces oil from Apache's Van Gogh oil field.  

The Ningaloo Vision has a 150,000 bpd capacity. Apache said on Wednesday it was prepared to move the Ningaloo off site at short notice. 

Tropical cyclones and temporary shutdowns are a normal part of Australian summers, but an especially stormy season can have major impacts, such as when cyclones and flooding swamped the coal-mining industry in the country's northeast a year ago.  

Tropical cyclone Heidi lashed the remote northwest earlier this month, shutting the major iron ore terminal at Port Hedland.

"State Emergency Service advises that there are no community alerts at present," said the weather bureau. 

Copyright 2012 Thomson Reuters. Click for restrictions.

CNBC HIGHLIGHTS

  • ETF Strategist | Fixed income
  • The economy is heating up but the Fed isn’t letting up. How do you play the fixed-income market?
  • With its rich oil reserves and rampant corruption, Azerbaijan poses a dilemma for U.S. policy makers.
  • Business owners should occasionally consider giving their work for free. Here are several reasons why.
  • Chris Christie and Warren Buffett
  • GOP Governor Chris Christie wants Warren Buffett to stop talking about higher taxes on the super-rich.
  • London Olympic Rental
  • There’s a shortage of hotel rooms in London for the Olympics, so many locals are renting out their opulent private homes.
  • Boston Beer will be creating a special commemorative brew, the Samuel Adams Boston 26.2, to mark this year's Boston Marathon.


Current DateTime: 01:25:37 23 Feb 2012
LinksList Documentid: 29778428

Current DateTime: 03:38:29 22 Feb 2012
LinksList Documentid: 29779196

Current DateTime: 12:30:56 22 Feb 2012
LinksList Documentid: 29779197

Current DateTime: 02:40:55 23 Feb 2012
LinksList Documentid: 29779199
CNBCCNBC
About CNBC  |  Site Map  |  Video Reprints   |  Advertise  |  Help  |  Contact
Privacy Policy  |     |  Terms of Service  |  Independent Programming Report
  Data is a real-time snapshot  *Data is delayed at least 15 minutes
Global Business and Financial News, Stock Quotes, and Market Data and Analysis

© 2012 CNBC LLC.  All Rights Reserved.
A Division of NBCUniversal
Thomson ReutersThomson Reuters