Offshore Regulations


Five-year Plan: U.S. to Hold Between Zero and 11 Offshore Drilling Lease Sales

few minutes ago

President Joe Biden's administration on Friday unveiled a five-year proposal for offshore oil and gas development in areas of existing production, and said the final plan may have anywhere from zero to 11 lease sales.The range of options, between two auctions a year and none at all, sought to balance the administration's efforts to fight climate change with its calls to increase oil and gas supplies in the face of soaring fuel prices…

India Imposes A Windfall Tax On Oil Producers and Export Duties For Oil Products

Jul 01, 2022

India introduced export duties for gasoil, gasoline and jet fuel on Friday to help boost domestic supplies, while also imposing a windfall tax on oil producers that have benefitted from higher global crude oil prices.The new taxes, announced in government orders…

Biden Administration Offshore Drilling Plan Delayed

Jun 30, 2022

The Biden administration on Thursday delayed the rollout of a proposed five-year offshore oil and gas development plan that had been promised by the end of the month, according to sources.Interior Department Secretary Deb Haaland in May had…

Biden Drilling Plan May Exclude All Waters Beyond Gulf of Mexico

Jun 30, 2022

The U.S. Interior Department has recommended to the White House that all federal offshore oil and gas drilling auctions over the next five years be located in the Gulf of Mexico, where the drilling industry has already been focused for decades…

Staatsolie to Offer 60% of Suriname's Offshore Blocks in Coming Year

Jun 30, 2022

Suriname's state oil firm Staatsolie is getting ready to offer 60% of the country's offshore blocks for auction over the next 12 months, starting with a deepwater round in the fourth quarter, a company executive said on Wednesday.The Guyana…

KFO Fishermen to Have a Say in Irish Floating Wind Project. IFSA Chair Blasts the Deal

Jun 29, 2022

An interesting agreement has been signed in Ireland under which a local fishermen organizatino KFO will have a say in the development of an offshore wind project development in Ireland, dubbed one of the top five emerging markets for offshore wind…

Noble Corp. Finds Buyer for Five North Sea Rigs, Paving Way for Maersk Drilling Merger Completion

Jun 23, 2022

Noble Corporation has found a buyer for five jack-up rigs in a move that could alleviate concerns raised by the UK Competition and Markets Authority.Namely, the CMA said in April it had found that Noble Corp. and Maersk Drilling merger - first…

Nigerian Senate to Investigate Shell over Alleged Illegal Oil Lease Renewals

Jun 23, 2022

Nigeria's Senate said on Wednesday it will investigate oil company Shell Plc over alleged illegal extensions of oil exploration leases and is seeking a refund of $200 million which it said accrued over the period.The upper house of parliament…

US Oil Lobby Pushes Biden to Roll Back Fossil Fuel Curbs

Jun 14, 2022

The American Petroleum Institute, the top U.S. oil lobby organization, on Tuesday urged President Joe Biden’s administration to lift a slew of restrictions on fossil fuel development to help ease soaring energy prices.The request underscores…

Ecuador's Petroecuador Opens Tenders for Offshore Field, Refinery Modernization

Jun 10, 2022

Ecuadorean state-run oil company Petroecuador on Thursday announced two auctions, hoping to attract private company bids for a flagship offshore natural gas field and a contract to modernize the Esmeraldas refinery.Petroecuador is seeking a…

Colombia's Extractive Industries Watching Election Warily

Jun 08, 2022

Colombia's leftist firebrand presidential candidate Gustavo Petro is too close in recent polls for the comfort of oil companies and miners who worry that his promised policies would imperil Colombia's economy and energy self-sufficiency, high-ranking industry figures and business associations said…

Appeals Court Blocks Fracking Permits for Drilling Off California Shores

Jun 07, 2022

The U.S. government cannot issue any drilling permits that authorize the use of hydraulic fracturing and acidization off the coast of California until it issues a full Environmental Impact Statement, a federal appeals court held Friday.The 9th U…

UK Picks Offshore Wind Champion. Opens $200M Floating Wind Fund for Expressions of Interest

May 20, 2022

The UK government on Friday appointed Tim Pick as the UK's first Offshore Wind Champion, as a £160 million (around $199,6 million) floating offshore wind fund opens for expressions of interest.'Ambitious plans to expand offshore wind around…

U.S. Preparing New Five-year Plan for Offshore Oil and Gas Auctions

May 20, 2022

The Biden administration will propose a new five-year plan for offshore oil and gas development by June 30, the date when the current plan expires, Interior Secretary Deb Haaland said on Thursday.The announcement comes as the administration…

German Ex-chancellor Schroeder under EU Pressure over Rosneft, Gazprom

May 19, 2022

The European Parliament urged that former German Chancellor Gerhard Schroeder be blacklisted if he does not quit the board of Russian state-owned oil company Rosneft ROSN.MM in a move also meant to dissuade him from taking a top job at Gazprom GAZP…

Current News

Five-year Plan: U.S. to Hold Between Zero and 11 Offshore Drilling Lease Sales

Five-year Plan: U.S. to Hold Between Zero and 11 Offshore Drilling Lease Sales

Norwegian Offshore Oil Workers to Go on Strike on Tuesday

Norwegian Offshore Oil Workers to Go on Strike on Tuesday

Teekay Sells Sevan Hummingbird FPSO to Ping Petroleum

Teekay Sells Sevan Hummingbird FPSO to Ping Petroleum

Norway Greenlights Increased Gas Production at Several Offshore Fields

Norway Greenlights Increased Gas Production at Several Offshore Fields

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