'Frog's Leg' Proves Bountiful for Aker BP
revenue from production based on estimates of how much oil and gas is located on each side.Aker BP is operator of the license with a 60 percent stake, while Sweden's Lundin Petroleum and Eni's Vaar Energi each hold 20 percent.Aker BP is 40 percent owned by Norway's Aker ASA and 30 percent by BP Plc. (Reuters reporting by Terje Solsvik; Editing by Shreejay Sinha
Record-size US Offshore Oil Lease Sale Draws Modest Bidding
we’re seeing continued consistent investment in the Gulf of Mexico," BOEM spokesman Mike Celata said in a conference call with reporters, adding he forecast increasing oil and gas production from the region for years. He said 33 companies, including majors Royal Dutch Shell Plc , BP Plc, Chevron Corp, and Total SA , had placed 159 bids on 148 blocks. But critics of the administration called the unusually large lease sale ill-timed. U.S. crude oil and natural gas output is already smashing records thanks to improved drilling technology that has opened up cheaper onshore
As US Opens Up Offshore Waters, Eastern GoM Beckons
;energy resources in concert with enabling military operations, training and testing." Defense Department spokeswoman Major Carla Gleason said collaboration with Interior on the issue was "a priority." Major offshore producers such as Exxon Mobil Corp, BP Plc, Anadarko Petroleum Corp and ConocoPhillips declined to comment. Shell welcomed the expanded offshore prospects the Trump administration plans to make available, but has not committed to any new activity, said spokesman Curtis Smith. A Chevron spokeswoman, Veronica Flores-Paniagua
Trump Aims to Open Nearly All US Offshore to Oil Drilling
waters to oil and gas drilling, a move aimed at boosting domestic energy production that sparked protests from coastal states, environmentalists and the tourism industry. The effort to open previously off-limits acreage in the Atlantic, Arctic and Pacific oceans comes less than eight years after BP Plc's Deepwater Horizon oil spill in the Gulf of Mexico - the largest in American history. The disaster caused billions of dollars in economic damage and led former President Barack Obama's to increase regulation of the industry. Interior Secretary Ryan Zinke said on Thursday the department's
BP's Thunder Horse Platform Shut Temporarily on Power Issue
BP Plc halted production at its Thunder Horse platform in the U.S. Gulf of Mexico on Monday following a power outage, a company spokesman confirmed on Tuesday. The benchmark for sour crude rallied to its strongest in more than two years on the disruption. BP evacuated its workforce of about 300 people from the facility after the power outage as a precaution, according to the statement. Technical and essential personnel were scheduled to return to the platform on Tuesday. The platform has the ability to produce up to 265,000 barrels of oil a day, and was producing about 180
Brazil Regulator Rejects Total Study on Drilling at Amazon River Basin
to accept Total's environmental impact study has held up the company's four-year quest to explore the offshore basin, an area some geologists say could contain up to 14 billion barrels of petroleum, or more than the entire proven reserves in the Gulf of Mexico. Total led a group including Britain's BP Plc and Brazilian state oil company Petrobras in buying five exploration blocks in the basin in 2013, but the discovery of a massive coral reef just 28 kilometers (17 miles) from the blocks has thrown environmental approval for drilling into doubt. Total in Brazil did not respond to a request for
'Deepwater Horizon' Filmmakers Say Authenticity a Priority
;60 Minutes" about the hours leading up to the disaster. "It was about science, it was about human courage, it was about corporate greed. It to me just had all the elements of a really good story and it stuck with me," he said. The film examines safety decisions made by BP Plc executives leading up to the disaster, highlighting the pressure workers were under to save money as drilling fell behind. The British oil major in July estimated costs from the disaster will total about $62 billion, as it sets aside billions for criminal and civil penalties and cleanup
Six Years after BP Spill, US Sets New Offshore Oil Safety Rules
The Obama administration on Thursday unveiled new oil well control rules to prevent the kind of blowout that happened six years ago on a BP Plc rig in the Gulf of Mexico. The Interior Department's Bureau of Safety and Environmental Enforcement announced the finalized regulations, which include more stringent design requirements and operational procedures for offshore U.S. oil and gas operations. The new standards come nearly six years after a deadly explosion and fire on the Deepwater Horizon oil rig off the cost of Louisiana, which led to the worst oil spill of all time. The
US Judge Approves BP Civil Settlement with US Government over 2010 Spill
U.S. Judge Carl Barbier granted final approval on Monday to BP Plc's civil settlement over its 2010 Gulf of Mexico oil spill after it reached a deal in July 2015 to pay up to $18.7 billion in penalties to the U.S. government and five states. The company at the time said its total pre-tax charges from the spill set aside for criminal and civil penalties and cleanup costs were around $53.8 billion. Under the terms of the original agreement with the U.S. Department of Justice and the Gulf Coast states, BP will pay at least $12.8 billion for Clean Water Act fines and natural resource damages, plus $4.
February 2024
