By Valerie Volcovici WASHINGTON, Jan 18 (Reuters) - A federal court judge on Friday ruled that the federal government cannot process seismic testing permits for offshore oil drilling during the ongoing government shutdown, dealing a blow Trump administration's energy agenda. Judge Richard Gergel of the U.S. District Court in South Carolina issued the decision in response to … [Read more...]
After Billion-Barrel Bonanza, BP Goes Global with Seismic Tech
By Ron Bousso LONDON, Jan 18 (Reuters) - Buoyed by the success of seismic imaging that found an extra billion barrels of oil in the Gulf of Mexico, BP is looking to take its latest technology to Angola and Brazil. The software used in the Gulf, based on an algorithm created by Xukai Shen, a geophysicist straight out of Stanford University, led to BP discovering the … [Read more...]
Norway Supreme Court to Hear Snow Crab Case with Implication for Oil
By Gwladys Fouche OSLO, Jan 15 (Reuters) - Norway's Supreme Court will on Tuesday hear arguments on whether EU ships can fish for snow crab off Arctic islands north of Norway without permission from Oslo, a case that could decide who has the right to explore for oil in the region. At stake is whether the snow crab - whose meat is considered a delicacy by gourmets in Japan … [Read more...]
Winners and Losers in Big Oil’s Offshore Spending Revival
By Francois de Beaupuy (Bloomberg) -- After four years of cutbacks, oil companies are poised to open their purses again and develop new offshore fields, although the benefits won’t be spread equally across the companies who provide them everything from seismic surveys to pumps and turbines. The long-awaited spending rebound will re-energize oil-services providers … [Read more...]
BP Uses New Technology to Unlock 1 Billion BOE at Thunder Horse Field
By Ron Bousso LONDON, Jan 8 (Reuters) - BP said it has discovered two new oilfields in the Gulf of Mexico and has identified an additional billion barrels of oil at an existing field thanks to new seismic technology. The British company, which has only recently turned a corner following the deadly 2010 Deepwater Horizon spill, also on Tuesday announced plans to expand … [Read more...]