Offshore Regulations

Costa Rica Looks to Ban Fossil Fuel Exploration and Extraction

5 hours ago

Costa Rican lawmakers this week will discuss a bill to permanently ban fossil fuel exploration and extraction, a move that would prevent future governments from pivoting on the issue as the popular eco-tourism destination country aims to decarbonize by 2050…

Nord Stream 2 Pipeline 99% Complete

Jul 29, 2021

The much-politicized Nord Stream 2 undersea gas pipeline from Russia to Germany is 99% complete, the pipeline operator said on Wednesday, after the pipelay vessel Akademik Cherskiy finished its initially planned workload.The $11 billion Nord Stream 2…

Florida Senators Move to Firm Up Offshore Drilling Ban

Jul 27, 2021

U.S. Senators Marco Rubio (R-FL) and Rick Scott (R-FL) introduced the American Shores Protection Act to codify the moratorium on oil and gas drilling off the coasts of Florida that was put in place by September 8, 2020, Executive Order by then-President Trump…

Dutch Court Rules Against Dos Santos in Oil Asset Case

Jul 27, 2021

A Dutch court has ruled a half-billion-dollar stake in the Portuguese oil company Galp linked to Angolan ex-first daughter Isabel Dos Santos must be handed over to Angola, lawyers for the southwest African country's state oil company said on Tuesday…

BP Fined $69,000 for Failing to Report Offshore Well Results

Jul 26, 2021

The UK oil and gas regulator Oil and Gas Authority (OGA) on Monday fined BP with a £50,000 (around $69,100) fine and served it with a Sanction Notice for breaching a license condition by failing to report the progress and results of two extended well tests at the Vorlich offshore field…

Scottish Offshore Wind Lease Sale Attracts 74 Bids for 15 Areas

Jul 22, 2021

Companies vying for rights to develop wind farms off the coast of Scotland, as part of the ScotWind seabed lease sale, have file 74 applications by July 16 deadline.Crown Estate Scotland today confirmed that 74 applications have been received…

Eleventh Hour: RWE Joins ScotWind Party

Jul 16, 2021

Renewable energy giant RWE has confirmed it will be taking part in the upcoming offshore wind seabed leasing round process in Scotland, called ScotWind, just as the deadline for applications was about to expire.ScotWind is a seabed leasing round…

Nigeria Step Closer to Long Awaited Oil Overhaul

Jul 16, 2021

Nigeria's lower house of parliament on Friday cleared a petroleum overhaul package for the president's signature.The overhaul, in the works for 20 years, aims to attract more of the world's decreasing fossil fuels investment to Nigeria's petroleum sector…

Greenland Says No to Future Oil Exploration

Jul 16, 2021

Greenland has ended its 50-year ambition to become an oil producing nation after announcing it would suspend a strategy of searching for oil and would stop granting exploration licences.Oil exploration has taken place since the 1970s, involving major companies such as Shell…

Nigerian Senate OKs Bill to Attract Investment in Oil Sector

Jul 15, 2021

Nigeria's senate approved a reconciled version of a bill on Thursday aimed at attracting billions in investment to its aging oil sector, capping a two-decade bid for reforms, just as investors begin to look beyond fossil fuels.The overhaul governs…

Ukraine to Remain Transit Country for Russian Gas Despite Nord Stream 2, Merkel Assures

Jul 13, 2021

Ukraine can be confident that Germany and the European Union will guarantee its status as a transit country for Russian gas even after the Nord Stream 2 pipeline has opened, German Chancellor Angela Merkel said on Monday.Merkel made the remarks…

Eni, Red Rock Team Up to Bid for Scottish Offshore Wind Lease

Jul 12, 2021

Italian oil giant Eni is working to boost its renewable energy portfolio further after it last year entered the Dogger Bank, the world's largest offshore wind project, on its path towards delivering 60 GW of renewables installed capacity by 2050…

Argentina Seeks Sanctions Against Oil Firms Drilling Near Disputed Falklands

Jul 07, 2021

Argentina's government has launched a process to sanction a number of foreign firms it accuses of illegally drilling for oil in a disputed area near the British-run Falkland Islands, over which the South American country also claims sovereignty…

Mexico Picks Pemex to Run Giant Zama Discovery. Talos Says Will Explore All Legal Options

Jul 06, 2021

Mexico chose state-owned Pemex to run a major shared oil find over the private consortium led by a U.S. oil company that first discovered it, in the latest win for President Andres Manuel Lopez Obrador's nationalistic energy policies.The disputed deposit…

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