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Arctic

Northstar Island, an artificial island in the Beaufort Sea north of Alaska, is a site of oil and gas drilling. (U.S. Department of the Interior)

Company plans gravel island to extract Arctic offshore oil

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Hilcorp’s plan for a 23-acre gravel island, about the size of 17.4 football fields, has drawn mixed reviews from conservationists and outright condemnation from environmentalists who believe the oil should stay in the ground.
(AP Photo/Mikhail Metzel)

Russian oil explorers among bidders for Norway Arctic blocks

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The 57 blocks on offer include 34 in the Barents Sea southeast, the first new area to be opened to exploration in Norway since 1994.
(AP file photo/Marco Garci)

Tesoro buying assets in Alaska

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San Antonio-based refiner Tesoro said it’s buying all of Flint Hills’ wholesale fuel marketing contracts in Alaska, along with a terminal in Anchorage with 580,000 barrels of storage, a truck rack and rail-loading capability.
(Kristian Helgesen/Bloomberg)

Statoil sees more Norway oil exploration cuts amid Arctic halt

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Norway’s biggest oil explorer and producer is set to drill 16 wells in the country as an operator in 2015, down from 21 last year.
conoco

ConocoPhillips approves $900 million Arctic reserve project

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The Alaska Dispatch News reports that when production begins in 2018 at the filed in the National Petroleum Reserve-Alaska — an Indiana-sized Arctic reserve — the project is expected to yield 30,000 barrels of oil daily at its peak.
Ben van Beurden, chief executive officer of Royal Dutch Shell Plc, pauses as the company announce their fourth-quarter results in London, U.K., on Thursday, Jan. 29, 2015. Van Beurden pledged to do all he can to maintain payments to shareholders of Europe's largest oil company after crude prices fell by more than half in the past six months. Photographer: Chris Ratcliffe/Bloomberg  *** Local Caption *** Ben van Beurden

Shell CEO: “We have to live within our means”

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The oil bust has forced Shell and its rivals to recalibrate the timing and affordability of projects around the world.
conoco

ConocoPhillips wins drilling permit for project in Alaska’s petroleum reserve

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The company first applied to produce oil from its Greater Mooses Tooth site in Alaska 13 years ago.
(Bureau of Safety and Environmental Enforcement)

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

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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.
Jed Hamilton and Kevin Harun take part in the University of Houston 2015-2016 Energy Symposium.  (Craig H. Hartley/For the Chronicle)

Exxon Mobil official promotes Arctic exploration

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“If the U.S. stands in the background, Russia will move forward, and things won’t be as good as they could be if the U.S. had a seat at the table in the Arctic,” said Jed Hamilton, senior Arctic consultant at Exxon Mobil Upstream Research Company.
Northstar Island, an artificial island in the Beaufort Sea north of Alaska, is a site of oil and gas drilling. (U.S. Department of the Interior)

Feds to review Hilcorp’s plan for manmade island in Arctic

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Although other gravel islands have been built in the Beaufort Sea, Hilcorp’s proposed Liberty project would be the first oil production facility located entirely in federal waters off the Alaska coast.