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 »
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 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 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 »
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 »
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 »
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 »
Shell, which has spent eight years and $6 billion to explore the Arctic’s Beaufort and Chukchi seas, said in letter to the Interior Department that “prudent” exploration before leases expire is now “severely challenged.” More »
A Houston oil and gas company must pay to settle government charges alleging it illegally dumped oil and chemicals into the Gulf of Mexico.
Offshore oil driller Ocean Rig Partners has filed for a $305 million initial public offering as it anticipates four next-generation deep-water drillships to be assembled over the next three years. More »
A new poll shows that support for Arctic drilling is high in states where there are close Senate races. More »
The project could eventually lead to peak production of 135,000 barrels of oil per day for a joint venture including ConocoPhillips and Shell. More »
he federal agency in charge of regulating offshore drilling doesn’t have standardized procedures for reviewing permits and has not finished establishing an electronic program designed to streamline the process, according to government audit. More »
North Carolina, South Carolina and Virginia could rake in billions if the Interior Department opens up auctions on leases along the Atlantic Coast, according to the study. More »
More details came to light Tuesday on Shell’s plans for exploratory oil drilling in the Chukchi Sea north of Alaska, as federal regulators released a copy of the company’s broad Arctic drilling blueprint.