In this March 31, 2015 photo, a supply vessel crosses an oil sheen drifting from the site of the former Taylor Energy oil rig in the Gulf of Mexico, off the coast of Louisiana. The New Orleans-based company has downplayed the leak's environmental impact, likening it to scores of minor spills and natural seeps that the Gulf routinely absorbs. (AP Photo/Gerald Herbert)

AP: Offshore wells buried during Hurricane Ivan have been leaking oil into the Gulf since 2004

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An Associated Press investigation has revealed evidence that the spill is far worse than what the company behind the leak has publicly reported.
(Dado Galdieri/Bloomberg)

Shell exec: U.S. risks losing drilling dollars to Brazil, Canada and Mexico

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The Obama administration’s plan for selling offshore oil and gas leases from 2017 to 2022 could jeopardize the United States’ competitiveness as Brazil, Canada, Mexico and other countries aggressively compete for drilling dollars, a Shell executive told Congress.
In June, GE tested this prototype 20,000 psi ram blowout preventer at its Houston Technology Center. The 20ksi program also includes new wellheads, connectors, control systems, and riser systems. (GE Oil & Gas)

Feds unveil plan for keeping offshore oil wells in check five years after Gulf spill

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The measure codifies many of the steps that companies have already taken to better keep offshore wells in check, including more rigorous maintenance and testing of the blowout preventers that act as a last line of defense against uncontrolled surges of oil and gas.
Noble Energy will drill exploration wells off the coast of the Falkland Islands, the company announced Wednesday.

Noble Energy doubles down in Falkland Islands

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The Houston-based oil company announced Monday that it has scooped up additional acres offshore the Falkland Islands and plans to start drilling there this year despite opposition from Argentina’s government.
(LM Otero/AP)

Exxon might be next in line for mega deal, analysts say

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Exxon Mobil Corp. could be the next big oil firm to pull off a major corporate takeover like Royal Dutch Shell’s $70 billion bid this week for BG Group, Morgan Stanley analysts say.
(AP Photo/Diamond Offshore)

Houston oil company among five caught in legal battle over new U.K.-Argentina Falkland Islands fight

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Argentina filed criminal charges Thursday at the general prosecutor’s office in Buenos Aires against five U.K. and U.S. oil companies.
(Photo by NOAA via Getty Images)

The Atlantic Ocean could have one of its quietest hurricane seasons in years

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About 4 percent of U.S. natural gas and 17 percent of oil production is centered in the Gulf.
The Maersk Developer drills an exploratory well into Statoil's Martin prospect, about 3,000 feet below the surface in the Gulf of Mexico. Two years ago, Statoil paid $157 million for the right to drill into a single 9-square-mile block at the site and the Norwegian company is now spending about $1.1 million a day to rent the Developer, supply the drilling rig and pay for other contractors. (Jennifer A. Dlouhy / Houston Chronicle)

Statoil makes Gulf of Mexico discovery

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Statoil and its partners have struck oil in the Gulf of Mexico, but more work is needed before the Norwegian oil company can determine the size of the discovery.
(Kristian Helgesen/Bloomberg)

Shell’s BG deal adds to North Sea job concern after oil collapse

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Shell, employing about 2,400 across the North Sea, targets $2.5 billion of pretax “synergies” a year across the globe from the deal, including staff cuts.
A Noble Energy rig off the south coast of Cyprus in the Mediterranean Sea. (AP Photo/Cyprus Press and Information Office, File)

Noble Energy cuts 220 jobs

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Noble Energy has slashed 220 jobs, the company announced Tuesday, joining a growing list of oil firms trimming their rolls as they struggle to rein in spending amid falling oil prices.