Tag: Offshore Drilling
North Sea production rises, reversing years of declining output
New North Sea production amounts to 1.2 million b/d North Sea production is expected to rise in the coming years as new oil projects come online, offsetting a slide in output from the world’s oldest deepwater basin. According to a report by Reuters, the new projects stretch from the West Shetlands to the fringes of […]
Obama prepares to block new Atlantic, Arctic drilling -Bloomberg
Atlantic, Arctic drilling rights block could come as early as Tuesday Dec 19 (Reuters) – U.S. President Barack Obama is preparing to block the sale of new offshore drilling rights in much of the U.S. Arctic and parts of the Atlantic, Bloomberg reported, citing two people familiar with the decision. Obama’s move, which could come […]
US Arctic energy development regulation finalized
US Arctic energy development rules set standards for Outer Continental Shelf By Valerie Volcovici WASHINGTON, July 7 (Reuters) – The U.S. Department of Interior on Thursday unveiled its final regulations on drilling in the U.S. Arctic Outer Continental Shelf to boost safety in the environmentally sensitive region. The rules set safety standards for exploratory drilling on the […]
API calls for more US Arctic leases as Norway expands Arctic drilling
Arctic offshore energy development could add 27 billion barrels of oil and 132 trillion cubic feet of natural gas As Arctic countries like Norway ramp up their northern drilling programs, the American Petroleum Institute is calling on Washington for more “forward-looking energy policy” that includes the Arctic. API Executive Vice President Louis Finkel addressed “flaws” in […]
API: Key moment for next decade of US affordable energy, leadership
Department of Interior should promote development of Arctic, Gulf of Mexico as core components of 5-year program WASHINGTON – The API called on the Obama Administration to maintain and promote US oil and natural gas development through the Bureau of Ocean Energy Management’s (BOEM) 2017-2022 offshore program, API Group Director of Upstream and Industry Operations […]
Bureau of Ocean Energy overreaching on air quality regulatory program – API
In a February 10 letter to Director Hopper, API called on BOEM to not fundamentally alter the current Air Quality Regulatory Program The energy industry is accusing the Obama Administration of regulatory overreach again, this time over proposals to regulate air quality in the Outer Continental Shelf. The OCS is the part of the internationally recognized continental […]
Global offshore drilling market expected to grow $11 billion by 2020
Africa takes lead with large offshore discoveries in Angola and Tanzania, followed by Europe The global offshore drilling market is expected to grow from $78.6 billionUSD in 2014 to $89.8 billionUSD by 2020, at a compound annual growth rate of 4.54 per cent during 2015 to 2020, according to a new study by Dublin-based Research and Markets. Asia Pacific […]
API says Obama’s offshore policy reversal shuns American consumers, national security
API claims President Obama’s decision will cost America jobs, business opportunities, and tax revenue WASHINGTON – API CEO Jack Gerard says the Administration’s offshore oil and natural gas policy is inconsistent with the will of American voters, governors and members of Congress who overwhelmingly support offshore oil and natural gas exploration and development. “The decision appeases […]
Strong support for offshore drilling from voters in Carolinas, Virginia
“North Carolina has the largest coastal area within the proposed leasing zone, meaning we stand to benefit more than any other Atlantic Coast state.” A statewide telephone poll of over 600 voters in each state of North Carolina, South Carolina, and Virginia shows overwhelming support for offshore development of oil and natural gas resources, especially among Republicans. The […]
Helix Energy: Q4 $403 million loss due to reduced offshore drilling
Helix Energy’s well intervention vessel utilization in Q4 2015 decreased to 47% from 60% in Q3 2015 Helix Energy Solutions Group, Inc. reported a net loss of $403.9 million, or $(3.83) per diluted share, for Q4 2015 compared to net income of $8. million, or $0.08 per diluted share, for the same period in 2014 and net income of $9.9 […]
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