Offshore oil has built some well-deserved bad rap over the decades because of oil spills, and it has frequently been the specific target of protest action from environmentalists. But if Continue Reading
After last year’s lowest spending on new field developments in 30 years, the offshore oil and gas sector is set to significantly increase capital expenditures this year to around US$44 Continue Reading
More restrictive oil and gas leasing, permitting and drilling on US federal lands and waters proposed by the Biden administration cast a wide net, but lack critical details and the Continue Reading
President Joe Biden’s temporary halt to drilling on federal lands leaves the vast majority of U.S. crude production untouched, though it may be the death knell for the Gulf of Continue Reading
The Gulf of Mexico is littered with tens of thousands of abandoned oil and gas wells, and toothless regulation leaves climate warming gas emissions unchecked. Out on the deck of Continue Reading
U.S. Talos Energy and Mexico’s state-controlled oil firm Pemex have another three months to discuss and possibly reach an agreement over how to manage and operate a massive oil find Continue Reading
Smack dab in the middle of an oil price crisis caused by an unprecedented demand loss, Exxon announced the latest in a string of discoveries off the eastern South American Continue Reading
Aquaterra Energy anticipates more offshore decom activity next year – and beyond. Following the general pace of much oil and gas industry activity this year, the offshore decommissioning sector has Continue Reading
This analysis concerns C&C only. Natural gas production is low and steadily declining with few deep gas-condensate discoveries and the shallow dry gas fields at end of life. I don’t Continue Reading
In a move that came as a surprise to some, today’s oil and gas lease round in the U.S. Gulf of Mexico generated substantial interest on Wednesday. The sum of Continue Reading
Uncertainties on both the timing of oil demand recovery from the coronavirus pandemic and the future actions of the incoming Joe Biden administration over permitting on federal lands present a Continue Reading
On Thursday morning, Tropical Storm Eta made landfall over North Florida and has become the 12th named storm to make landfall out of a record-breaking year of 29 named storms. Continue Reading
In a year marked by huge spending cuts across the oil and gas industry amid urgently revised budgets and slashed investments, some analysts are now expecting a light at the Continue Reading
The Trump administration on Thursday said it would offer all available areas in the Gulf of Mexico for auction to oil and gas drillers on Nov. 18, the first major Continue Reading
Democrat members of the House Natural Resources Committee are pushing for a permanent ban on all offshore oil and gas leasing in Atlantic and Pacific federal waters as well as Continue Reading
A Guest Post by George Kaplan Overall Annual Production Production is dominated by major international companies particularly, and maybe surprisingly, European ones. Principally Shell and BP, but with Equinor, Eni, Continue Reading
US Gulf offshore oil and gas producers began evacuating personnel Oct. 5 ahead of Tropical Storm Delta, which is expected to enter the area as a hurricane before making landfall Continue Reading
The global oil and gas market demand for large-diameter offshore pipeline, known as trunkline, is set for an annual drop of 26% this year, with the size of total installations Continue Reading
U.S. President Donald Trump said on Friday he had extended a ban until 2032 on oil drilling off the coast of North Carolina and Virginia, weeks after a similar extension Continue Reading
Offshore US Gulf of Mexico oil and gas production continued to recover Sept. 21 as Tropical Storm Beta was preparing to make landfall along the Texas coast, US Bureau of Continue Reading
U.S. Gulf of Mexico oil and gas production has been shut-in as a response to Tropical Storm Sally. U.S. Gulf of Mexico (GOM) oil and gas production has been shut-in Continue Reading
U.S. President Donald Trump on Tuesday signed an order to extend a ban on offshore oil drilling in the eastern Gulf of Mexico off Florida, as he seeks to win Continue Reading
U.S. President Donald Trump shocked the oil industry today with a surprise announcement that he would extend the existing moratorium on oil drilling on parts of Florida’s, South Carolina’s, and Continue Reading
US Gulf of Mexico oil and gas operators continue to restore oil and natural gas output, albeit slowly, from platforms temporarily brought offline prior to Hurricane Laura which slammed the Continue Reading
U.S. Gulf of Mexico oil production is slowly returning following Hurricane Laura. U.S. Gulf of Mexico (GOM) oil production is slowly returning following Hurricane Laura, the Bureau of Safety and Continue Reading
US oil and natural gas operators continued restoring production from Gulf of Mexico platforms that had been shut-in in advance of Hurricane Laura as that monster storm barreled through the Continue Reading
Approximately 69.76 percent of the current oil production in the U.S. Gulf of Mexico remained shut in as of August 30. Approximately 69.76 percent, or 1.29 million barrels per day, Continue Reading
U.S. Gulf of Mexico crude oil output remained down 70%, or 1.29 million barrels per day, according to data released on Sunday by the Department of Interior, as companies continued Continue Reading
The U.S. energy industry began preparing for a major hurricane strike by Tuesday, cutting crude production at a rate approaching the level of 2005’s Hurricane Katrina and halting oil refining Continue Reading
US Gulf of Mexico production numbers released Aug 25 by the federal Bureau of Safety and Environmental Enforcement show that producers have little output in the region along the predicted Continue Reading
US Gulf Coast gasoline differentials spiked Aug. 24 as the region monitored approaching tropical storms Marco and Laura. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Continue Reading
Oil and chemical facilities located along the Texas and Louisiana Gulf Coast are shuttering, securing equipment or running through emergency protocols ahead of a strong hurricane set to rip through Continue Reading
More than one million barrels of oil per day have been shut in on the U.S. Gulf of Mexico, as of August 23, as Hurricane Marco and Tropical Storm Laura Continue Reading
Energy companies moved to cut production at U.S. Gulf Coast oil refineries on Monday after shutting half the area’s offshore crude oil output as back-to-back storms took aim at the Continue Reading
Coastal residents in low-lying areas of Louisiana and Cuba were evacuating on Sunday, while roads turned to rivers in Haiti’s capital city, as twin hurricanes threatened the Caribbean and U.S. Continue Reading
Offshore drilling major Valaris became the latest victim of the crisis this week as it filed for bankruptcy in the U.S., proposing a swap of some $6.5 billion in debt Continue Reading
US Gulf of Mexico producers have opted to shut more of their production and evacuate crews Aug. 23 as meteorologists revised the tracks of two tropical storms, Marco and Laura, Continue Reading
Chevron has begun shutting in production and evacuating crews from four sizeable US Gulf of Mexico platforms in advance of Tropical Storm Laura and Tropical Depression 14, as the two Continue Reading
UK-based offshore drilling contractor Valaris has filed for bankruptcy protection in the United States, offering creditors to swap some $6.5 billion of its $7.8-billion debt pile for equity. The company Continue Reading
Offshore wind has the potential to become a major industry in the United States over the next decade, unlocking billions of U.S. dollars of investment and creating thousands of jobs. Continue Reading
Demand for offshore rigs will slump this year as a result of the pandemic and the low oil prices that are forcing offshore operators to delay drilling activities, but the Continue Reading
The world’s largest offshore rig operator Transocean has hired Lazard to advise it on strategic alternatives for its capital structure, Bloomberg has reported, citing a company statement. Transocean reported a Continue Reading
The Bureau of Ocean Energy Management is proposing to offer approximately 78.8 million acres in a new Gulf of Mexico lease sale. The Bureau of Ocean Energy Management (BOEM) has Continue Reading
A new innovation center in Norway aims to find alternative and cost-efficient solutions aimed at reducing the huge US$100 billion decommissioning cost that the North Sea operators and countries face, Continue Reading
LLOG Exploration Offshore has sanctioned its Taggart discovery and finalized development plans for the deepwater Gulf of Mexico field. LLOG Exploration Offshore, L.L.C. reported Monday that it has sanctioned its Continue Reading
As of June 7, workers have been evacuated from 185 production platforms in the U.S. Gulf of Mexico due to Storm Cristobol. As of June 7, workers have been evacuated Continue Reading
As oil and gas companies began shutting offshore production before the first tropical storm of the season in the U.S. Gulf of Mexico, experts said restarting wells and refineries will Continue Reading
Project cancellations, spending cuts, well shut-ins: the problems and dilemmas plaguing onshore oil producers have also spread to offshore. And while the effects of the Covid-19 pandemic on onshore drilling Continue Reading
Between low demand, soaring inventories, depressed prices, a global pandemic, and now, hurricane season, it seems a perfect storm is forming around the offshore oil industry. The world’s offshore oil Continue Reading
A detailed evaluation of the Southern Grand Banks petroleum system offshore Atlantic Canada has identified a new oil presence, Applied Petroleum Technology reported. A detailed evaluation of the Southern Grand Continue Reading
