ExxonMobil ( XOM ) wants to get back to work.
The energy giant, the largest direct descendant of John D. Rockefeller’s Standard Oil, said on Sept. 16 that it is working to safely restart operations at its Hoover offshore platform in the Gulf of Mexico, Reuters reported.
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The company had shut down the facility ahead of Tropical Storm Francine, which made landfall on Sept. 11 with winds of 100 mph.
Nearly all of Terrebonne and Lafourche Parishes lost power, while roughly one-third of Metro New Orleans suffered a power loss.
As Exxon looks to get its Hoover operation back on line, the company and the rest of the industry are contending with declining crude oil prices due to a slump in industrial demand and a lack of cohesion among OPEC cartel members.
The International Energy Agency said in its September report that global oil demand growth continues to decelerate, with reported first-half gains of 800 kb/d, or thousand barrels per day, year-over-year the lowest since 2020.