(AP Photo/Patrick Semansky)

Commentary: Transparency and process adjustments boosted Mexico’s second offshore auction

In less than three months, the Mexican Government has changed the narrative of their oil and gas auctions.
The hull of Chevron's Big Foot oil platform takes a three-month journey from Korea to Texas. (Chevron)

Investigation ongoing into failure at Chevron’s Big Foot project

Chevron’s beleaguered Big Foot platform has been towed back to South Texas while the company continues to investigate the failure of equipment used to latch the hulking steel platform to the seafloor.
Penguins gather on the coast of Murrell Farm near the northeastern corner of the Falkland Islands. The Falklands have struck oil, potentially pumping billions of dollars into their treasury. One downside is the potential for a major spill in seas where penguins, whales, seals and other marine mammals are drawn to unspoiled coasts.   (AP Photo/Michael Warren)

Argentina accuses Noble Energy of illegally operating in Falkland Islands

Noble has brushed off the accusations, maintaining that its concession contracts are with the Falkland Islands Government, not Argentina.
(AP Photo/Patrick Semansky)

Offshore driller Ocean Rig warns of plans to pare back fleet

Ocean Rig, a Cyprus-based company that specializes in projects in ultra-deepwater and other harsh environments, said it expects to cold stack one of its drillships, will consider scrapping two semi-submersible oil rigs, and may be forced to cold stack yet another drillship pending a potential unexpected contract cancellation.
(AP Photo/HO, Shell)

Shell starts Nigeria offshore expansion of up to 50,000 barrels

Shell has a 55 percent stake in Bonga and operates what it says were the first deposits to be developed in Nigeria’s deep waters in 2005.
The J. W. McLean offshore drill rig, operated by Transocean Ltd., stands anchored in the Cromarty Firth beyond the prow of the offshore pipelay vessel Deep Energy, operated by Technip SA, in Invergorgon, U.K., on Wednesday, Aug. 6, 2014. (Photographer: Simon Dawson/Bloomberg)

Rolls-Royce to cut 400 marine jobs as oil hits ship sales

The cuts announced Monday follow the elimination of 600 factory posts at the division announced in May, mostly focused on Norway, where Rolls-Royce’s marine manufacturing operations are based.
(Kristian Helgesen/Bloomberg)

Former Arctic engineering exec to direct Houston deep-water research center

Bill Maddock, an expert in offshore operations and engineering, has been tapped to lead a Houston-based deepwater offshore energy research center established in the aftermath of the Deepwater Horizon spill.

Houston oil company settles SEC investigation over West Africa payments

The company failed to properly account for funds disbursed by its Guinean subsidiary and did not do a good enough job vetting third-party vendors, which led to a violation of the Exchange Act that requires companies to keep detailed records of all transactions, the SEC said in its order.
(Bureau of Safety and Environmental Enforcement)

Shell abandons Arctic oil quest after $7 billion bid yields ‘disappointing’ results

After failing to find commercially viable quantities of oil and gas at its Chukchi Sea well, Shell said it will halt exploring U.S. Arctic waters and could take a $4.1 billion write down.
(AP Photo/Gerald Herbert, File)

Obama administration plan would ensure energy companies pay to scrap old offshore hulks

The move by the Interior Department’s Bureau of Ocean Energy Management is designed to ensure that the companies have set aside enough money to dismantle offshore facilities once oil and gas stops flowing.