Daily Oil & Energy News
Beginning in 2016 oil prices bottomed, and began a stop-start recovery that has restored WTI and Brent (two globally recognized bench marks for oil) to about 65-70 percent of their Continue Reading
The search for ever-better materials to soak up oil from water has recently added a new member to this highly specialized and highly sough-after family: Chinese scientists have invented a Continue Reading
94 percent of U.S. offshore resources are not available for investment. Ninety-four percent of the United States’ offshore resources are not available for investment. That’s what Eric Oswald, vice president Continue Reading
The Offshore Technology Conference (OTC) in Houston, Texas celebrates its 50th birthday this week, begging the question – what will the next 50 years hold for the offshore market? Luckily, Continue Reading
Dismantling an oil and gas platform in the Gulf of Mexico is becoming even more challenging. Hardly an easy proposition to begin with, dismantling an offshore oil and gas platform Continue Reading
BP, the biggest oil producer in the U.S. Gulf of Mexico, has just announced that it is expanding the development at one of its fields, unlocking additional production from its Continue Reading
BP Plc on Monday announced new production units in the Gulf of Mexico, enhancing its standing as the largest producer there at a time when rival global oil majors are Continue Reading
BP has approved the Thunder Horse Expansion Phase 2 project in the deepwater Gulf of Mexico, which should add 50,000 boepd. BP has approved the Thunder Horse Expansion Phase 2 Continue Reading
The Trump administration unveiled on Thursday its final plan to roll back offshore drilling safety measures put in place by the Obama administration after the fatal 2010 BP Deepwater Horizon Continue Reading
The Trump administration is giving oil companies more flexibility when drilling offshore, by easing Obama-era mandates imposed in response to the 2010 Deepwater Horizon disaster. (Bloomberg) — The Trump administration Continue Reading
The Trump administration is poised to relax offshore drilling requirements imposed in response to the 2010 Deepwater Horizon disaster. (Bloomberg) — The Trump administration is poised to relax offshore drilling Continue Reading
Swiss driller Transocean’s customers are moving ahead with more offshore projects amid a rebound in crude oil prices and the continued improvement in offshore economics, company executives said Tuesday. Transocean Continue Reading
A combined Chevron and Anadarko entity would take first place in a table of top 2019 Gulf of Mexico equity producers, Rystad Energy has confirmed. A combined Chevron Corporation and Continue Reading
President Donald Trump is considering a delay in the introduction of a plan for the expansion of oil and gas drilling in federal waters until after the 2020 elections, Bloomberg Continue Reading
The Trump administration’s plans to expand offshore drilling are on hold after a March court ruling blocked drilling in the Arctic and Atlantic, Interior Secretary David Bernhardt told the Wall Continue Reading
The Trump administration’s proposal to vastly expand offshore oil and gas drilling has been sidelined indefinitely as the Interior Department grapples with a recent court decision that blocks Arctic drilling, Continue Reading
A month after unveiling plans to divest assets in Malaysia, Murphy Oil Co. is sharpening its focus on the deepwater Gulf of Mexico. A month after unveiling plans to divest Continue Reading
South Carolina’s Republican-majority Senate advanced a measure on Wednesday that would require the state to block new infrastructure to transport or process offshore oil and gas as state lawmakers fear Continue Reading
Shell has sold its 22.45-percent interest in the Anadarko-operated Caesar-Tonga field in the U.S. section of the Gulf of Mexico to Israeli Delek Group for US$965 million. Besides the field Continue Reading
The idea of opening up the waters off the coast of Florida to oil and gas drilling has been among the least popular ones of the Trump administration and yet Continue Reading
Royal Dutch Shell has agreed to sell its stake in the Caesar Tonga field in the Gulf of Mexico for $965 million in cash to a subsidiary of Israel’s energy Continue Reading
Oil companies will this year increase their investments in offshore drilling for the first time after five years of spending cuts as optimism for this segment of the industry returns Continue Reading
The Trump administration’s fourth major auction for oil and gas leases in the U.S. Gulf of Mexico received $244 million in high bids on Wednesday, reflecting an uptick in interest Continue Reading
The Trump administration is likely to open up portions of the Atlantic to oil and gas drilling despite opposition from East Coast states, a U.S. Interior Department official suggested in Continue Reading
The Trump administration is set to unleash its offshore, five-year oil drilling plan within weeks, Reuters reported , quoting an unnamed source in the know. The plan is being prepared Continue Reading
The Trump administration’s revised five-year program to expand offshore drilling in most federal waters will be released “in the coming weeks,” an Interior Department official said on Wednesday, after months Continue Reading
The Bureau of Land Management has scheduled a region-wide oil and gas lease sale for the Gulf of Mexico, in which it will offer a total 14,696 blocks spanning 78 Continue Reading
Global deepwater liquid production is set to jump by 700,000 bpd from 2018 to reach a record-high of 10.3 million bpd in 2019, thanks to new fields coming on stream Continue Reading
A federal court on Friday blocked the Trump administration from issuing any permits to conduct seismic testing for offshore oil and natural gas drilling during the partial government shutdown. Judge Continue Reading
Buoyed by the success of seismic imaging that found an extra billion barrels of oil in the Gulf of Mexico, BP is looking to take its latest technology to Angola Continue Reading
Rystad Energy forecasts offshore spending will outgrow spending on onshore shale activities this year. Service companies exposed to the offshore subsea market and the maintenance, modifications and operations (MMO) sector Continue Reading
Oil majors will spend US$208 billion on offshore drilling and other oilfield services this year, but not all sector players are positioned to benefit from the higher spending, Bloomberg reported Continue Reading
Earlier this decade, BP and the Gulf of Mexico was an awkward and uneasy collocation for the UK oil supermajor after the 2010 Deepwater Horizon disaster. Nearly a decade and Continue Reading
The supermajor has given the greenlight to the Atlantis Phase 3 development, which is expected to boost production by 38,000 boepd. BP has approved a $1.3 billion expansion for the Continue Reading
Attorneys general from nine U.S. states sued the Trump administration on Thursday to stop future seismic tests for oil and gas deposits off the East Coast, joining a lawsuit from Continue Reading
Activity booms, first-ever production and key sanctions are some of the factors leading to a grand year for the US Gulf of Mexico, analysts say. The U.S. Gulf of Mexico Continue Reading
Attorneys general from nine coastal states are intervening in a lawsuit aimed at blocking seismic surveys that could help pinpoint oil under Atlantic waters but also imperil whales and dolphins. The Continue Reading
Siemens last week announced the launch of the first hybrid power plant for offshore rigs combined with energy storage featuring lithium-ion batteries. The company first unveiled the Blue Vault power Continue Reading
The Trump administration is taking a major step toward allowing a first-in-a-generation seismic search for oil and gas under Atlantic waters. (Bloomberg) — The Trump administration is taking a major Continue Reading
Chevron’s operated Big Foot deepwater project starts crude oil and natural gas production. Chevron has announced that its operated Big Foot deepwater project, located in the U.S. Gulf of Mexico, Continue Reading
BP starts up its Thunder Horse Northwest Expansion in deepwater Gulf of Mexico months ahead of schedule. BP’s Thunder Horse Northwest Expansion offshore Gulf of Mexico is starting four months Continue Reading
Technology is increasingly becoming more important for oilfield services companies to gain an edge in what’s still a recovering market. Technology is increasingly becoming more important for oilfield services companies Continue Reading
BP said on Thursday that it had started up ahead of schedule its Thunder Horse Northwest Expansion project in deepwater Gulf of Mexico, adding 30,000 bpd to the Thunder Horse Continue Reading
The offshore drilling segment of the energy industry was among the hardest hit by the 2014 downturn. Many went under, and those that did survive were on their last legs Continue Reading
TGS and Schlumberger announce a new multiclient nodal seismic project in the US Gulf of Mexico (GOM). TGS and Schlumberger have announced a new multiclient nodal seismic project in the Continue Reading
U.S. Gulf of Mexico oil and gas production is returning to near normal levels following Hurricane Michael, data from an offshore regulator showed on Sunday, with oil output off 15.8 Continue Reading
Crude and Condensate Reserves BOEM remaining C&C reserve estimates for GoM increased by 649 mmbbls for 2016 (i.e. to 31st December 2016). This was 112% reserve replacement and followed a Continue Reading
Exxon Mobil Corp ( XOM.N ) is exploring the sale of many of its U.S. Gulf of Mexico assets, as higher prices prompt the world’s largest publicly traded oil company Continue Reading
The latest step taken by the Trump administration in supporting the energy industry has been the relaxation of safety rule for offshore oil and gas production, put in place following Continue Reading
Crude and Condensate Reserves BOEM remaining C&C reserve estimates for GoM increased by 649 mmbbls for 2016 (i.e. to 31st December 2016). This was 112% reserve replacement and followed a Continue Reading