Low Prices Spark Interest in Latest U.S. Gulf Lease Sale

By Nichola Groom March 20 (Reuters) - The Trump administration's fourth major auction for oil and gas leases in the U.S. Gulf of Mexico received $244 million in high bids on Wednesday, reflecting an uptick in interest from drillers attracted to the region's low prices. Of the 78.5 million acres (31.77 million hectares) offered, companies submitted bids on 1.26 million acres, … [Read more...]

U.S. Coast Guard to Tackle 14-Year-Old Oil Leak in the Gulf of Mexico

The U.S. Coast Guard has partially assumed federal control over the operation to contain an oil dishcarge from the site of MC20 platform in the U.S. Gulf of Mexico that has likely been leaking since the platform toppled back in 2004. The platform, owned by Taylor Energy, LLC, was located in Mississippi Canyon Block 20, approximately 11 miles south of the mouth of the … [Read more...]

Oil Majors Offload Gulf of Mexico Fields to Hunt Bigger Finds

By Kevin Crowley and David Wethe (Bloomberg) -- Big Oil is giving up looking for singles and doubles in the Gulf of Mexico: Now it’s home runs or bust. Exxon Mobil Corp. and Royal Dutch Shell Plc, the world’s two biggest oil companies, have put a slew of assets in the Gulf up for sale in recent weeks, while Brazil’s state-run Petrobras this week sold the bulk of its … [Read more...]

U.S. Oil Firms Restoring Operations in Storm-Battered Gulf of Mexico

HOUSTON, Oct 11 (Reuters) - Major oil producers and drillers, including Chevron Corp and BP Plc, on Thursday began returning crews to more than 90 offshore facilities in the U.S. Gulf of Mexico that were evacuated this week as Hurricane Michael moved through the Gulf. Production shut-ins that had temporarily halted 42 percent of Gulf oil output and nearly a third of natural … [Read more...]

China’s Nexen Plans Gulf of Mexico Oil Exit Amid Trade War -Sources

By Jessica Resnick-Ault and Ron Bousso NEW YORK/LONDON, Sept 26 (Reuters) - Nexen Petroleum, a unit of China's CNOOC Ltd, plans to exit the United States, divesting its stake in giant oil and gas developments in the Gulf of Mexico as trade tensions between two countries mount, three people familiar with the plan told Reuters on Wednesday. Nexen has not determined whether it … [Read more...]