Category: Offshore

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

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.  More »

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

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.  More »

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

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.  More »

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

Western Europe’s biggest crude producer is facing what central bank Governor Oeystein Olsen calls a “period of restructuring” amid plunging oil prices.  More »

CGG open to Technip partnership after spurning takeover approach

CGG has lost more than half its market value in the past year as oil majors including Total SA slash spending on exploration.  More »

East Coast Democrats protest Atlantic oil drilling

Sixty-five lawmakers told the Obama administration to reconsider a plan to sell oil and gas drilling leases along the East Coast.  More »

BP discovers second big natural gas reservoir in Egypt

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

Cal Dive files for chapter 11 bankruptcy protection

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.  More »

Feds weighing Shell bid for more time in Arctic

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.  More »

EIA: Gulf of Mexico production to continue increasing

By 2016, the Gulf will account for about 17 percent of total U.S. crude production.  More »

Philippines suspends oil, gas exploration in disputed waters with China

Oil and gas exploration company Forum Energy Plc. said the Department of Energy instructed it to halt all work in its contracted area at Reed Bank in the South China Sea off the western Philippine province of Palawan.  More »

Federal oil lease sale of western Gulf tracts set for August

The sale will include approximately 4,000 blocks, from nine to 250 miles offshore, in depths ranging from 16 to almost 11,000 feet.  More »

Transocean could take only a week to shelve out-of-work rigs, execs say

Transocean reported a loss in the fourth quarter as it took a $992 million goodwill impairment charge on the sinking value of its drilling business and other charges, it said late Wednesday.  More »

BP, Maersk team up to train rig crews in Houston simulators

BP is announcing Thursday that it has a five-year contract for its offshore rig crews to get practice with drilling equipment in virtual-reality environments at Maersk Training’s new facility in Houston, which will feature high-tech simulators for offshore rig tasks, the companies said Thursday.  More »

Technip, Aker Solutions to cut 2,100 more oil jobs

Executives at Paris-based oil equipment maker Technip told investors in a conference call the firm has cut 1,800 jobs in recent months, about 15 percent of which were contracted.  More »
Page 3 of 26912345...102030...Last »