Trump’s Atlantic Oil Effort Runs Aground In South Carolina

by Carlyann Edwards (Bloomberg) More than half the registered voters in Republican-controlled South Carolina supported Donald Trump in a poll last month, but there’s at least one area where state leaders are ditching the president to join rival Democrats: a fight against oil exploration off the Atlantic coast. While no new drilling has been approved in U.S. Atlantic waters, … [Read more...]

Trump Said to Advance Seismic Surveys for Oil in Atlantic

By Jennifer A. Dlouhy (Bloomberg) -- The Trump administration is taking a major step toward allowing a first-in-a-generation seismic search for oil and gas under Atlantic waters, despite protests that the geological tests involve loud air gun blasts that will harm whales, dolphins and other animals. The National Marine Fisheries Service is set to issue “incidental harassment … [Read more...]

Offshore Drillers Eye Market Recovery by 2020

By John Benny Oct 15 (Reuters) - Battered oil and gas drilling companies are finally seeing piecemeal signs that the prices they charge for offshore rigs are bottoming out with Brent crude selling for more than $80 a barrel and some are forecasting a full turn in the market by 2020. At the depths of a global slide that took oil below $27 a barrel in early 2016, daily rates … [Read more...]

Equinor Acquires a 40% Stake in Undeveloped Rosebank Project in UK Waters

Norwegian energy giant Equinor has signed an agreement to acquire Chevron’s 40% operated interest in the Rosebank project, one of the largest undeveloped fields on the UK Continental Shelf (UKCS). The Rosebank field was discovered in 2004 and is located about 130 km northwest of the Shetland Islands in water depths of approximately 1,110m. The other partners in the field are … [Read more...]

Mexico Oil Auction Winners Stay Positive as Industry Slows Down

By Amy Stillman (Bloomberg) -- Mexico’s oil auction winners BHP Billiton Ltd and DEA Deutsche Erdoel AG are hopeful that the slowdown in bid rounds is a feature of the country’s political transition and won’t be permanent. "We have expectations that things will pick up again and continue,” said DEA Deutsche chief executive officer Maria Moraeus Hanssen. The company expects … [Read more...]