Texas prepares to resume oil and gas production | TOP-NEWS
Texas prepares to resume oil and gas production

Texas prepares to resume oil and gas production

The earlier snowstorm brought a number of businesses to a standstill

Oil and gas refiners in Texas said Friday they are gradually resuming operations after a snowstorm that paralyzed the state.

Producers said it will take about three weeks to fully resume oil and gas production because low water pressure and power outages have hampered operations.

It will take oil crews several days to remove ice from the valves, restart the systems and begin producing oil and gas. The state’s refiners are now assessing the damage to facilities from the blizzard.

News of the resumption of production led to a drop in oil and natural gas prices in Louisiana trading.

As a reminder, about 165,000 homes remain without power after a snowstorm that lasted several days in Texas. Economists estimate that the total economic loss to the state could be between $45 billion and $50 billion. Texas Governor Greg Abbott held the state power grid operator responsible for the outages.

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