Tag: gulf of mexico

Obama shift on Cuba won’t mean big oil boom in Gulf of Mexico

President Barack Obama’s decision to normalize relations between the United States and Cuba may lead to more commercial opportunities for Americans within the island nation. But don’t expect U.S. oil producers to move swiftly to take advantage of them.  More »

Big oil could chop $930B in projects as prices fall

Global oil markets could lose as much as 7.5 million barrels of crude over the next decade if sunken oil prices stall the slate of new oil and gas projects around the world, a new report says.  More »

Energy leaders pledge cooperation despite discord over Keystone

The three-nation talks took place as global oil prices fall to the lowest in five years, possibly putting a dent in the surge of domestic production from shale drilling.  More »

Mexico opens bidding for outsider oil exploration

Mexico nationalized its oil industry in 1938. Prior to this year’s reforms, the state company Petroleos Mexicanos was the only one allowed to do oil exploration and production.  More »

Feds blast BP’s request to cut billions in spill fines

The outcome of this latest legal tussle between the British oil giant and federal prosecutors could mean a difference of $11 billion on BP’s final bill for spilling millions of barrels of oil into the ocean four years ago.  More »

Supreme Court denies BP’s petition to review settlement case

The U.S. Supreme Court on Monday denied BP’s request for the court to review the 2012 oil spill settlement it reached with thousands of Gulf Coast businesses and residents in the wake of the Deepwater Horizon disaster.  More »

BP cutting jobs

BP is cutting mid-level supervisors in its oil production and refining businesses and in back-office corporate functions, the British oil giant’s chief financial officer told the Times of London as it is set next week to lay out its plans through the end of this decade.  More »

Companies announce first oil from deep-water Gulf fields

Oil has begun flowing at the Jack/St. Malo project in the deep-water Gulf of Mexico.  More »

BP, audit spell out documentation issues at spill claims office

A report from an independent accounting firm could give BP more ammunition for its long legal fight over its massive oil spill settlement.  More »

Dead offshore worker described as family man and supervisor

Louisiana officials have identified the man who died in a Nov. 20 explosion at an oil platform in the Gulf of Mexico.  More »

Fatal explosion came during maintenance work

The fatal explosion came nearly six months after federal drilling regulators warned that the facility had failed to maintain all equipment in a safe condition so as to ensure the protection of the lease and associated facilities.  More »

Feds probe fatal offshore blast

Federal investigators are on the scene of a oil platform in the Gulf of Mexico that exploded on Thursday, killing one person and injuring three others.  More »

Hess, Chevron see first oil flow at Tubular Bells

Hess Corp.’s quest to harvest crude from its Tubular Bells field in deep Gulf of Mexico waters has culminated in oil now flowing at a massive production facility 45 miles from shore.  More »

BP asks judge to cap spill penalties at $12 billion

BP wants a federal judge to cap its potential oil-spill pollution fines at a maximum of $12.3 billion, a move that would cut away nearly a third of the penalties U.S. prosecutors are seeking for the Deepwater Horizon disaster.  More »

Iraq wants tanker dispute to stay in U.S.

Iraq wants an international dispute over a tanker of crude floating for three months off Galveston’s coast to remain in U.S. courts because Kurdistan refuses to resolve the matter on Iraqi soil, according to recent court filings.  More »
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