In this April 2010 file photo, oil can be seen in the Gulf of Mexico, more than 50 miles southeast of Venice on Louisiana's tip, as a large plume of smoke rises from fires on BP's Deepwater Horizon offshore oil rig. (AP Photo/Gerald Herbert, File)

Judge: Local governments, including Houston, will get their BP payments soon

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A federal judge said this week BP has until late August to start processing payments totaling $1 billion to the 400 local governments along the Gulf Coast that were part of the British oil major’s $18.7 billion Deepwater Horizon oil spill settlement inked earlier this month.
Workers prepare drilling pipe on the Petroleos Mexicanos (Pemex) La Muralla IV deep sea crude oil platform in the waters off Veracruz, Mexico, on Friday, Aug. 30, 2013. (Susana Gonzalez/Bloomberg)

Mexico’s failed first round of bidding an important lesson, energy panel says

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In testimony Thursday before the Western Hemisphere subcommittee of House Committee on Foreign affairs, a panel of four experts on Mexico’s energy reform unequivocally called Mexico’s first tender a disappointment.
Spectators look at a Cameron Evo 20K BOP, a blowout preventer, at Cameron's booth at the 2013 Offshore Technology Conference  in Houston. (Cody Duty / Houston Chronicle)

Cameron executives see downturn nearing bottom

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Houston-based Cameron, which provides equipment to offshore and onshore producers, said it saw fewer producer spending cutbacks in the second quarter.
Workers on Ridgewood Energy's Vermilion 344 project.

Ridgewood launches huge deep-water Gulf fund, says it can find oil for $20 per barrel or less

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As other companies slow down their expensive deep-water Gulf investments, Ridgewood says it can find and develop oil there for cheap.
ADVANCE FOR USE SUNDAY, JULY 19, 2014 AND THEREAFTER - FILE - This Saturday, Sept. 4, 2010 file photo shows vessels assisting in the drilling of the Deepwater Horizon relief well on the Gulf of Mexico near the coast of Louisiana at sunset. The BP leak, the worst-ever in offshore U.S. waters, occurred at a well that the company was in the process of temporarily closing. The accident killed 11 workers and spilled up to 172 million gallons of oil. Federal officials defend their well safety efforts since then, and there have more permanent closures. There were 25,928 permanently sealed wells in mid-May 2015, up 10 percent from 23,468 at the end of the BP spill, according to the AP analysis of federal data. (AP Photo/Patrick Semansky)

The number of temporarily sealed wells in the Gulf of Mexico is growing

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Five years after the Obama administration promised to move swiftly to permanently plug unused oil and gas wells in the Gulf of Mexico, even more shafts are lingering for longer periods with only temporary sealing.
Gulf Oil Spill Hidden Spill

Lawmakers back company responsible for decade-old Gulf leak

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The leak dates to Hurricane Ivan in 2004, when storm-whipped waves in the Gulf triggered an underwater mudslide that toppled a Taylor Energy-owned oil platform and buried a cluster of its wells under mounds of sediment. Oil is still leaking at the site more than a decade later.
conocophillips offshore

ConocoPhillips to scale back deep-water exploration and Gulf of Mexico programs

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Houston-based ConocoPhillips has already trimmed its 2015-2017 capital spending program from an initial $16 billion to about $11.5 billion per year after crude oil prices fell last fall. Of that $11.5 billion, less than $1.8 billion was dedicated to exploration.
Private oil companies soon could partner with Mexico's Pemex on operations like this in the Bay of Campeche. (Susana Gonzalez photo/Bloomberg)

Big Oil to battle for Mexico’s deep crude after auction snub

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International energy producers that sat out Mexico’s historic oilfield auction this week will be among the fiercest competitors for potentially massive deepwater prospects that go up for sale as soon as next month.
A worker from Oceanografia SA walks down a set of stairs on a section of the Petroleos Mexicanos (Pemex) Pol-A Platform complex, located on the continental shelf in the Gulf of Mexico, 70 kilometers offshore from Ciudad del Carmen, Mexico, on Friday, March 28, 2014. "Production is stable and we foresee production reaching our target levels above 2.5 million barrels per day,? Pemex chief executive officer Emilio Lozoya said in an interview last week. Photographer: Susana Gonzalez/Bloomberg

Oil majors shun Mexico offshore auction as blocks go unsold

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Exxon Mobil Corp., Chevron Corp. and Total SA all passed on the first 14 shallow-water oil blocks auctioned by Mexico today in the country’s first-ever sale of territory in the Gulf of Mexico. Only one of Mexico’s first five oil blocks auctioned received a qualifying bid.
In this April 2010 file photo, oil can be seen in the Gulf of Mexico, more than 50 miles southeast of Venice on Louisiana's tip, as a large plume of smoke rises from fires on BP's Deepwater Horizon offshore oil rig. (AP Photo/Gerald Herbert, File)

New Orleans accepts $45 million from BP in oil spill settlement

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Mayor Mitch Landrieu’s office announced in a news release Thursday the money will be used for “resilience initiatives, including water management and coastal and ecosystem restoration.”