The FPSO Petrojarl Knarr is producing oil for BG Group off the coast of Norway. (image courtesy BG Group)

BG Group announces production from North Sea field

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The Knarr oil field was discovered in 2008, and BG Group estimaes it has 80 million barrels of oil equivalent in gross recoverable reserves.
A jackup rig works on an Energy XXI project in the Main Pass complex of the Gulf of Mexico, located in about 100 feet of water near the mouth of the Mississippi River. (Martin L Vargas / Energy XXI)

Offshore auction tests industry’s appetite amid slumping prices

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Just 35 companies are participating in the government auction of Gulf of Mexico drilling rights — down from 50 a year ago and 56 in a similar March 2013 auction — suggesting that lower oil prices may be dampening enthusiasm for the offshore acreage.
(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.