Tag: offshore drilling

Shell planning to restart Arctic drilling this year

Shell is planning on spending $1 billion to drill exploratory oil wells in Arctic waters north of Alaska this year — as long as it clears legal and permitting hurdles, said CEO Ben Van Beurden.  More »

Three oil majors team up on Gulf megaproject

The collaboration reflects the steep technological and financial hurdles to commercially producing oil from 23-million-year-old Paleogene rock more than five miles below the surface of the sea.  More »

Offshore drilling plan targets Atlantic and Arctic waters

The Obama administration’s proposal for 10 auctions of drilling rights in the Gulf of Mexico, three targeting Arctic waters and one of Atlantic acreage is alienating both environmentalists and the oil industry.  More »

Obama administration opens door to Atlantic drilling

The Obama administration is poised to unveil a draft plan for selling offshore oil and gas leases that is expected to rule out auctioning drilling rights in parts of the Atlantic Ocean as well as in some Arctic waters and along the West Coast between 2017 and 2022.  More »

Republicans vow to fight administration on Arctic drilling

Republicans lashed out at what they called a “triple whammy” of Obama administration actions that could limit oil development in and around Alaska, including new protections in the Arctic National Wildlife Refuge and a coming plan for selling offshore drilling rights.  More »

Oil drillers are under pressure to scrap rigs to cope with downturn

More than 200 new rigs are scheduled to be delivered in the next six years, a 25 percent jump from the number currently under contract.  More »

Shell collaborating with regulators over Arctic drilling

Newly released documents suggest federal regulators are collaborating closely with Shell as the company pursues a new round of Arctic drilling next summer, even though an underlying sale of the region’s oil leases is still in legal limbo.  More »

Ocean energy bureau gets new director

Abigail Hopper, a Maryland energy regulator and veteran of fights over offshore wind farms, will be the top federal official in charge of oil and gas drilling along the nation’s coastlines.  More »

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 »

Feds boost liability cap for oil spills

Companies are still required to pay the entire costs of cleaning up after offshore spills. And the liability limit on economic damages is waived entirely if gross negligence, willful misconduct or other violations led to a spill.  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 »

Transocean to retire more rigs, execs say

Transocean lost billions of dollars in the third quarter as it faced sinking demand for offshore rigs and as it wrote down the value of its drilling business.  More »

North Carolina officials host closed meeting on oil drilling

Among those in attendance were top officials from the U.S. Bureau of Ocean Energy Management, which regulates drilling operations and handles the sale and lease of off-shore drilling rights in federal waters.  More »

Feds up Arctic oil estimates to satisfy court

The Obama administration is quadrupling its estimate of how much crude could be harvested from Arctic drilling leases it sold oil companies six years ago. Regulators also think there is a 75 percent chance of at least one large spill occurring in the area.  More »

Oil companies want more time for Arctic drilling

Three oil companies with billions invested in Arctic drilling leases are pleading with the Obama administration for extra time to hunt for crude under waters north of Alaska, but so far, federal regulators have been skeptical.  More »
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