U.S. Firm Locates French Submarine Missing Since 1968

The French Navy working with US-based subsea exploration firm Ocean Infinity has found the missing wreckage of the 'Minerve' submarine, which went missing in Mediterranean Sea off the coast of France in 1968 with the loss of all 52 lives on board. French Armed Forces Minister Florence Parly made the announcement in a tweet on Monday, "We have just found the Minerva. It's a … [Read more...]

Offshore Oil Exploration Ramps Up – Just Not In Asia

by Henning Gloystein (Reuters) - Surveying the ocean floor for oil and natural gas reserves is gradually emerging from a multi-year slump, everywhere apart from Asia. That’s despite Asia being the world’s biggest consumer of oil, having by far the strongest demand growth while seeing its production fall faster than anywhere else. The reasons for Asia’s dearth in … [Read more...]

Rare run of oil finds offers little respite offshore

(Reuters) Exploration firms have made a rare run of oil and gas discoveries in recent weeks as more targeted search strategies bear fruit, but they offer little respite to a sector that remains severely bruised by the oil price slump. Global exploration and production (E&P) companies that scour frontier lands and seas in search of new energy reserves have had meagre … [Read more...]