Emily Costly for Pemex

Mexican state run oil giant Petroleos Mexicanos (Pemex) is expected to register over $400 million in losses from the suspension of oil operations due to hurricane Emily. The disaster is expected to prevent the company from producing 2.85 million barrels of crude oil per day and 1.6 billion cubic feet of gas. Over 15,000 workers were transported from Pemex’s facilities in the open sea to the ports of Dos Bocas, Tabasco and Carmen. The hurricane weakened after pounding Mexico´s Yucatan Peninsula Monday but is expected to strengthen before hitting landfall again in southern Texas and northeastern Mexico.