(Eddie Seal/Bloomberg)

Feds: Market forces pushing offshore rig counts down

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The government’s top offshore energy overseers on Tuesday defended the Obama administration’s approach to oil and gas drilling along the nation’s coastlines, insisting that market forces — not federal regulations — were discouraging the activity.
(Kristian Helgesen/Bloomberg)

North Sea oil industry under siege seeks U.K. tax cuts

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The picture for North Sea today is grim. Production is less than half its peak in the 1990s, when the U.K. was a leading oil and gas exporter, giving the government billions in taxes to spend.
A heavy duty jack-up rig drills over the Forties Echo platform (Apache Corp.)

Supply vessel hits Apache platform; company says no injuries or spills

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Apache said the platform has been shut down but there hasn’t been any leak of oil or gas. It’s unclear when production will resume.
Chevron's massive deep water offshore platform heads to the Gulf of Mexico. The project was slated to start production this year, but that's been delayed after several subsea installation tendons sustained damage. (Chevron)

Chevron’s massive Big Foot platform heads to Gulf of Mexico

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With the finishing touches complete, Big Foot shipped out from Corpus Christi on Saturday morning en route to the Gulf of Mexico where it will float in the Walker Ridge area, 225 miles south of New Orleans.
(Getty)

Norway has an $18 billion plan to shift away from oil

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Western Europe’s biggest crude producer is facing what central bank Governor Oeystein Olsen calls a “period of restructuring” amid plunging oil prices.
(AP Photo/Xinhua, Jin Liangkuai)

CGG open to Technip partnership after spurning takeover approach

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CGG has lost more than half its market value in the past year as oil majors including Total SA slash spending on exploration.
U.S. Senator Ed Markey, D-Mass (SAUL LOEB/AFP/Getty Images)

East Coast Democrats protest Atlantic oil drilling

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Sixty-five lawmakers told the Obama administration to reconsider a plan to sell oil and gas drilling leases along the East Coast.
(Jason Alden/Bloomberg)

BP discovers second big natural gas reservoir in Egypt

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The British oil giant’s new gas discovery contains more than 5 trillion cubic feet of natural gas equivalent.
BIG GAME FISHING

Cal Dive files for chapter 11 bankruptcy protection

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The Houston firm said this week it is set to sell off its least important assets and plans to either reorganize or sell its main subsea contracting business, which helps oil companies maintain offshore production platforms and pipelines.
Shell used the drillship Noble Discoverer for its 2012 drilling in the Chukchi Sea north of Alaska.  (Jennifer A. Dlouhy / The Houston Chronicle)

Feds weighing Shell bid for more time in Arctic

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Interior Secretary Sally Jewell said the Obama administration will decide soon whether to yield to Shell’s request for an extension of its Arctic drilling leases. Statoil and ConocoPhillips have made parallel requests for leases that will begin expiring in 2019.