The Covid-19 pandemic has devastated global oil and gas project sanctioning this year and will cause total committed spending to drop to around $53 billion from 2019’s $190 billion, Rystad Energy says.
Gulf of Mexico
Offshore companies have started to evacuate workers from production platforms and drilling rigs in the Gulf of Mexico ahead of Hurricane Marco and Tropical Storm Laura.
Transocean Deepwater plans to lay off as many as 110 workers after the Houston offshore driller could not secure a new contract for one of its drillships amid low oil prices.
Offshore environmental management services firm Tems has secured two new contracts worth a total of more than £1 million for work in the deepwater Gulf of Mexico.
Tropical Storm Cristobal brought heavy rain to southern Mexico, and with a forecast that has it re-entering the Gulf of Mexico on Friday, oil-platform workers are already being evacuated.
Shell Oil, the U.S. subsidiary of energy giant Royal Dutch Shell, has evacuated nine workers from a company platform in the Gulf of Mexico for testing and treatment of COVID-19, the illness caused by the coronavirus.
When 62-year-old Tomas Morales registered a fever of 101.3 Fahrenheit on April 14, the doctor told him to self-isolate. But there was a problem: Morales was on an oil platform off the Mexican coast only reachable by helicopter, and he shared a bedroom with three other workers.
Energy giant BP has said it will “never forget the 11 people who lost their lives, nor the damage caused” in the Deepwater Horizon disaster exactly 10 years ago.
The Deepwater Horizon disaster forced the UK North Sea to “sharpen up its act”, reminding the sector of the “consequences of getting things wrong”, according to industry leaders.
BP is adjusting the company's offshore procedures after several workers who had previously been aboard a production platform in the Gulf of Mexico tested positive for the coronavirus.
Total and Chevron have cancelled rigs contracted from Valaris, working in Angola, the drilling company has announced.
Kosmos Energy has set out plans to reduce planned capital expenditure in 2020 to under $250 million.
Subsea 7 has announced the award of new contracts off the coast of Australia and the US Gulf of Mexico.
Royal Dutch Shell Plc is pushing ahead on its massive deep-water drilling plan in Mexico, even as it doesn’t foresee production starting under the current government.
The sale of a stake in Mexico’s giant Zama oil field promised to help Premier Oil pay down debts and strengthen its balance sheet, but an ownership conflict is complicating that process.
The Deepwater Horizon oil spill may have been even larger than previously thought, research suggests.
Subsea 7 today announced the award of a contract with Chevron in the Gulf of Mexico.
Chevron will move forward with the massive Anchor project in the deepwater Gulf of Mexico that carries an initial development cost of $5.7 billion.
The U.S. Gulf of Mexico is expected to set another oil production record in 2020 with most of the growth coming from deepwater projects, according to a new study.
A dispute between Halliburton and its insurer over its $1.1bn (£855m) Deepwater Horizon oil spill payments will be presided over by the UK’s highest court today.
The U.S. has forfeited some $18 billion tied to oil and gas production in the Gulf of Mexico since 2000 because of a decades-old law that gave energy companies a break on paying royalties when drilling in deep waters, federal investigators concluded Thursday.
Aberdeen-headquartered EnerMech has appointed a new Americas chief as it seeks to double headcount and turnover in the region.
BP is facing a charge of between $2bn and $3bn (£2.3bn) in the third quarter as its divestment programme will conclude sooner than expected.
Talos Energy has struck deals with BP and ExxonMobil covering new exploration opportunities in the US Gulf of Mexico.
Shell has selected TechnipFMC to provide subsea equipment for its PowerNap project in the US Gulf of Mexico.