Posts filtered on Tag


Image of Hurricane Joaquin  over the Caribbean, from NOAA's GOES West satellite. (NOAA)

Quiet Gulf hurricane season leaves oil drowned in oversupply

Barely an oil worker was evacuated from the Gulf of Mexico and the biggest storm this year — the strongest hurricane ever in the Western Hemisphere, actually — tore through the Pacific.
Brian Salerno, director of the federal Bureau of Safety and Environmental Enforcement   at the Offshore Technology Conference at the NRG Center Thursday, May 7, 2015. (Gary Coronado / Houston Chronicle )

Commentary: Proposed well standards bring accountability to offshore safety

Industry standards alone won’t ensure improved offshore safety because they lack the force of law, says the head of the federal agency that regulates the offshore industry.
(Kristian Helgesen/Bloomberg)

Norway faces 20 percent drop in oil investment after prices slump

Norway’s oil companies reduced their exploration-spending forecast for next year by 35 percent from the previous quarter’s estimate, and foresee a “sharp decline” in the number of offshore wells, Statistics Norway said.
(Kristian Helgesen/Bloomberg)

Statoil sees more Norway oil exploration cuts amid Arctic halt

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.
(Andrey Rudakov/Bloomberg)

Shell’s BG deal cleared by Australian competition regulator

Shell’s takeover has already won key regulatory approvals from the U.S., the European Union and Brazil.
Map of Shell prospects in the Gulf of Mexico. (Shell)

Shell finds 100 million oil barrels in deep-water Gulf discovery

Royal Dutch Shell has drilled its longest-ever well and found 100 million barrels of oil equivalent buried at one of its recent deep-water discoveries in the Gulf of Mexico, the company said Wednesday.
A rig worker looks out across the North Sea aboard the Troll A natural gas platform, operated by Statoil ASA, in the North Sea, Norway, on Wednesday, Oct. 21, 2015. Norway is on track for record gas production this year after Statoil ASA put an end to technical issues that limited Troll's capacity. Photographer: Krister Soerboe/Bloomberg

Statoil to exit Arctic leases north of Alaska

Statoil’s announcement comes two months after Royal Dutch Shell announced it would abandon its $7 billion Arctic drilling efforts in a neighboring part of the Chukchi Sea north of Alaska, after drilling a dry hole.
(Matthew Lloyd/Bloomberg)

BP’s drilling plan offshore Australia turned back by regulator

BP is seeking to drill in the Great Australian Bight, a remote region the company has described as “pretty much the last big unexplored basin in the whole world.”
Birds fly as pedestrians watch tug boats transport the Chevron Corp. Jack St. Malo semi-submersible drilling and production platform to the Gulf of Mexico from Kiewit Offshore Services in Ingleside, Texas, U.S., on Friday, Nov. 15, 2013. Chevron Corp. expects its $7.5 billion Jack/St. Malo platform to begin producing oil and gas in 2014, with a long-range target of 177,000 barrels per day. Photographer: Eddie Seal/Bloomberg

Commentary: Offshore well control rule will hurt, not help, offshore energy development

The oil and natural gas industry has spent the last five years following the Deepwater Horizon incident working with government and regulatory officials to improve the safety of operations offshore.
Otis Barnes, left, of Port Arthur, and his daughter, Kay Barnes, of Groves, watch as the 15-story, 8,000-ton hull of the Neptune SeaStar - an oil and gas production platform that Australia-based BHP Billiton, Marathon Oil, Woodside Energy and Repsol will operate - is towed by tugboats down the Port Arthur Ship Canal Saturday morning, May 19, 2007.
BHP Billiton commissioned the rig to be built in June 2005, and that year's hurricanes didn't stop construction. This is one of the few hulls built in the U.S. rather than Finland, Korea or Japan, and the construction provided jobs when the hurricanes wiped out a lot of others for months.
May 19, 2007

Marathon Oil selling Gulf fields for $205 million

The Houston oil producer said Monday it is holding onto minority stakes in two Gulf projects.