Tropical Storm Barry May Form in Gulf of Mexico Later This Week

By Brian K. Sullivan (Bloomberg) --A tropical storm may loom in the Gulf of Mexico late Wednesday or early on July 11 as a low pressure system moves off Georgia into warm waters, gaining strength and threatening offshore oil and natural gas production. The patch of low pressure currently over Georgia has an 80% chance of developing into at least a tropical depression and … [Read more...]

Environmental Groups Sue Trump Administration Over Rollback of Obama-Era Offshore Safety Rules

By Valerie Volcovici WASHINGTON, June 11 (Reuters) - A coalition of environmental groups on Tuesday filed a lawsuit challenging the U.S. Interior Department's rollbacks of safety measures put in place by the Obama administration in the aftermath of the fatal 2010 BP Deepwater Horizon oil spill. The lawsuit filed in a federal district court in California alleges that the … [Read more...]

Prelude FLNG Ships First Gas

The long-awaited first shipment of liquefied natural gas has sailed from Shell's massive Prelude FLNG facility that is now permanently moored off the coast of Western Australia. Shell announced Tuesday that the first shipment of LNG departed Prelude aboard the LNG carrier Valencia Knutsen destined for customers in Asia. The Prelude FLNG facility is operated by Shell in … [Read more...]

Equinor: Offshore Supply Vessel Collides with Statfjord A Platform

An offshore supply vessel collided with Equinor's Statfjord A platform in the North Sea on Friday, forcing the evacuation of the platform but no injuries or pollution has been reported, the Norwegian energy giant said in a statement. The collision occurred at 0155, June 7th, during loading operations involving the platform supply vessel Sjøborg. Statfjord A is currently … [Read more...]

Top Bankers Warn Offshore Oil Industry’s Debt Woes Aren’t Over

By Mikael Holter (Bloomberg) -- Offshore oil and gas bankers in Oslo are warning that the industry is far from out of the woods as a recovery is slow to take hold. Lender SEB AB is prepared for a potential second round of debt restructurings, following what has already been a wave of debt troubles over the past years. A renewed swoon in crude prices is now tamping … [Read more...]