Petrobras Cancels Offshore Vessel Leases – Schahin

Cerrado Sertão drillship

RIO DE JANEIRO, May 28 (Reuters) - Brazil's state-run oil company Petrobras canceled leases with Schahin Petroleo e Gas SA for five offshore oil drilling and production vessels after a cash crunch forced the ship leaser to remove the equipment from service for nearly a month, Schahin said on Thursday. The decision, if upheld, will result in the loss of more than 1,000 … [Read more...]

Environmentalists Cite Santa Barbara Oil Spill in Fight Against New Offshore Drilling Plan

An oil slick is seen along the coast of Refugio State Beach in Goleta, California, United States, May 19, 2015. REUTERS/Lucy Nicholson

By Steve Gorman LOS ANGELES, May 27 (Reuters) - Environmentalists urged California regulators on Wednesday to reject a proposed expansion of the only offshore drilling operation still permitted in state waters along the Santa Barbara coastline, seizing on public outrage over last week's nearby oil spill. Privately owned Venoco Inc is seeking permission to drill on 3,400 … [Read more...]

More Offshore Layoffs – World Wide Supply Lay-ups to Impact 48 Crew

World Diamond file photo courtesy Damen Shipyards

  Norway's World Wide Supply (WWS) says it is laying up two platform supply vessels operating in the UK spot market amid weak demand for offshore vessels. WWS announced the layups Wednesday in a statement to the Oslo Børs stock exchange. The company owns a total of six PSV3300-design platform supply vessels delivered by Damen Shipyard during the second half of … [Read more...]

UK Opts to Maximize Offshore Oil Production Over Onshore Wind

jack-up rig sunset offshore

By Alex Morales (Bloomberg) -- The U.K. aims to maximize domestic oil and gas production and curb the spread of onshore wind farms as the government leans toward maintaining energy security over cutting carbon emissions. The measures form part of an Energy Bill announced by Queen Elizabeth II in a speech to Parliament in London on Wednesday that outlines the first … [Read more...]

Oil Trades Near $60 as Retreat in U.S. Drilling-Rig Count Slows

Gulf Of Mexico Oil Rig And Workboat

byBen Sharples (Bloomberg) -- Oil traded near $60 a barrel as companies in the U.S. reduced the number of active rigs by the slowest pace since a prolonged retreat in drilling that began in December. Futures were little changed in New York after falling 1.7 percent on Friday. The number of rigs targeting oil dropped by one to 659, data from Baker Hughes Inc. … [Read more...]

Santa Barbara – Spill May Hamper Big California Oil Projects

SantaBarbaraOilSpill

by Rory Carroll May 22, San Francisco (Reuters) Hundreds of barrels of oil that gushed from a ruptured coastal pipeline in scenic California this week could stiffen opposition to large oil projects that companies want to build in the state, notably those to deliver cheap U.S. crude on trains. Several proposed oil-by-rail offloading terminals in California were already … [Read more...]

Layups and Layoffs at Solstad Offshore

Normand Skipper solstad

Norwegian ship owner Solstad Offshore announced on Friday about 50 of their offshore employees will be laid off as a result of the sales of two ships and two vessel layups. "The redundancies are very regrettable, and SOFF aims to carry out the process in an orderly manner and in close co-operations with the employee representatives" commented Lars Peder Solstad, CEO of … [Read more...]