By Mikael Holter - (Bloomberg) --Offshore drilling executives are trying to win back investors who have fled their stocks over the past year, insisting that a protracted recovery is gaining momentum. After suffering their worst downturn ever following the collapse of oil prices in 2014, rig companies started regaining hope as crude recovered three years later, bolstering the … [Read more...]
U.S. House Considering Three Bills to Limit Offshore Drilling
By Timothy Gardner WASHINGTON, Sept 11 (Reuters) - The U.S. House of Representatives on Wednesday passed a bill to ban offshore oil and gas drilling off Florida, the first of three measures it is considering, which would also ban drilling off the Pacific coast and in Alaska's Arctic National Wildlife Reserve. The first bill, sponsored by Representative Francis Rooney, a … [Read more...]
North Sea Oil Poised for Last Hurrah With Giant Norway Field
By Timothy Abington and Mikael Holter (Bloomberg) --The rise of a huge new Norwegian oil field is poised to give North Sea output one of its biggest boosts in years. The surge won’t last. Johan Sverdrup, one of the five largest offshore oil fields ever discovered in Norway, has been given the green light to begin production, with operator Equinor ASA scheduled to start … [Read more...]
Banks Close to Hiring Adviser for Debt Talks with Abu Dhabi’s Gulf Marine Services – Sources
By Davide Barbuscia and Hadeel Al Sayegh DUBAI, Aug 27 (Reuters) - Creditors of Abu Dhabi-based Gulf Marine Services (GMS) are close to hiring an adviser to help them renegotiate debt terms, two sources familiar with the matter said. London-listed GMS, which provides support vessels for offshore oil and gas and other energy installations, has been hurt by a downturn in the … [Read more...]
Norway Approves Funding for Floating Wind Farm at North Sea Oil Fields
Norwegian government-run Enova has approved funding of up to NOK 2.3 billion (US$256 million) to support a project that would develop the world's first floating offshore wind farm to power offshore oil and gas installations in the northern North Sea. The Hywind Tampen project proposes supplying electricity from a floating offshore wind farm to the Equinor-operated … [Read more...]