With energy companies relinquishing their holdings, advocacy group Oceana said the end may be near for drilling in the Arctic waters offshore Alaska. Oceana said it’s found through a Freedom Continue Reading
The Arctic has been the fascination of many people for centuries. Hundreds of years ago, the Europeans saw the Arctic’s frigid waters as a potential gateway to the Pacific. The Continue Reading
Ice, extreme temperatures and a vulnerable environment are all surmountable challenges as drillers set out to hunt for oil in a new area of Norway’s Arctic Barents Sea, according to Continue Reading
Russian oil company Gazprom Neft said it reached a milestone with production at its Arctic Prirazlomnoye field with its 10 millionth barrel of oil. “The 10-millionth barrel of oil is Continue Reading
President Obama and Prime Minister Trudeau announced an ambitious, broad array of initiatives that herald a new day in our cross-border partnership to combat dangerous climate change, transition to a Continue Reading
Conservation group Oceana became the second such organization to intervene in the consideration of Shell’s leases offshore Alaska on environmental grounds. Shell is appealing to the U.S. federal government to Continue Reading
A group of environmental activists filed a challenge to leases held by Royal Dutch Shell in Alaskan waters, citing the need to act on behalf of the climate. Earthjustice, working Continue Reading
Rig company Transocean said Monday its contract for the Polar Pioneer rig, deployed offshore Alaska, was canceled early by Royal Dutch Shell. The contract was set to expire in July. Continue Reading
Alaska paid $64.6 million to buy TransCanada Corp. TRP 1.24 % ’s stake in a proposed project to ship natural gas by pipeline from the state’s North Slope to an export terminal on the coast. The move, which was authorized by legislation passed by the state earlier this month, gives Alaska direct ownership in the project, along with partners BP BP 1.66 % PLC, ConocoPhillips COP 3.83 % and Exxon Mobil Corp. XOM 1.99 % It comes at a time when the outlook for demand for liquefied natural gas is uncertain amid a supply glut that has depressed once lofty spot market prices for the fuel. “By gaining an equal seat at the negotiating table, we are taking control of our destiny and making significant progress in our effort to deliver Alaska gas to the global market,” Alaska Gov. Bill Walker said in a statement Tuesday. The project, known […]
ON GOLIAT OIL RIG IN THE BARENTS SEA—Even as energy companies retreat from exploration in the Arctic, Italy’s Eni SpA will soon open the taps on the northernmost offshore oil platform in the world, offering a glimmer of potential for crude in the region—though at a considerable cost. In a field in the Barents Sea nearly 300 miles north of the Arctic Circle, Eni is set to begin pumping at its Goliat platform before the end of this year. It would open a flow that will eventually reach 100,000 barrels a day and place Eni among a select group of oil producers in the region. The rig’s imminent launch underscores the continuing appeal of the Arctic, but at the same time highlights the challenges of operating in a frontier region where crude is difficult and expensive to extract. The huge cost of pushing ahead with such projects, amid the […]
