Australian Cos. Shut Oil Fields as Cyclone Approaches

Feb. 18 (Bloomberg) — Chevron Corp.’s Australian unit halted production at oil fields on the Barrow and Thevenard Islands off the northwest coast, adding to shutdowns due to a tropical cyclone moving through the region.

BHP Billiton Ltd., Woodside Petroleum Ltd. and Apache Corp. are among oil producers that have shut down at least 220,000 barrels a day of oil production off Western Australia, or more than 40 percent of the country’s total. Australia’s northwest coastline is the nation’s most cyclone-prone region, with an average of five striking the area between November and April each year, according to the Bureau of Meteorology.

The Bureau of Meteorology is warning of “hurricane-force” winds offshore and “very high to phenomenal seas” near the center of the storm.

Nicholas, categorized as a Severe Tropical Cyclone, was 295 kilometers (183 miles) northwest of Karratha at 6 a.m. local time this morning, the Bureau said on its Web site. It is moving southwest at 10 kilometers an hour and is expected to continue in that direction before turning more to the south later today, the bureau said.

Bloomberg