Offshore Regulations - page 3

Offshore Oil Producer Fieldwood Energy Sued over $19.2M Bond Collateral

Jun 15, 2020

Offshore oil producer Fieldwood Energy on Thursday was sued by an insurance provider for allegedly failing to post $19.2 million in collateral for performance bonds, according to a Texas state court filing.Aspen American Insurance Company issued the bonds roughly two years ago…

Norway Opens Two Areas for Offshore Wind in the North Sea

Jun 12, 2020

Norway has opened two areas for offshore wind power developments in the North Sea, including one along its maritime border with Denmark, the energy ministry said on Friday.Western Europe's largest oil and gas producer generates most of its electricity from hydropower and normally has a surplus…

Macquarie Teams Up with RIDG for ScotWind Leasing Round

Jun 12, 2020

Macquarie's Green Investment Group, a green infrastructure investor, has teamed up with a Scottish offshore wind developer to compete for offshore wind projects in Scotland, it said in a statement late on Thursday.Earlier this week, Crown Estate Scotland launched ScotWind…

Call for Bids Launched for Offshore Blocks in Eastern Newfoundland

Jun 12, 2020

The Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB) has issued a Call for Bids for Exploration Licenses in the Eastern Newfoundland Region.Call for Bids NL20-CFB01 (Exploration Licences, Eastern Newfoundland Region) consists of 17 parcels and a total of 4…

UK Gov't Urged to Exempt All Offshore Workers from Quarantine Restrictions

Jun 11, 2020

A group comprising five offshore energy industry associations has called for the UK Government to exempt all offshore energy sector workers from the 14-day quarantine restrictions introduced on June 8.The group that calls itself the global Offshore Industry Group…

Sarawak State to Sue Petronas over Sales Tax

Jun 11, 2020

Malaysia's energy-rich Sarawak state will pursue legal proceedings against national oil company Petronas over the non-payment of sales tax, backtracking on a settlement agreement reached last month, national news agency Bernama reported.Petronas and Sarawak had reached a settlement in May…

US Grants 12 Royalty Cuts for Struggling Offshore Drillers

Jun 10, 2020

The Trump administration has approved 12 applications for reductions in royalty payments from offshore drilling companies reeling from reduced demand for fuel and battered prices, according to the agency that processes such requests.In an email…

Norway: Tax Breaks to Spur Investments in New Offshore Projects

Jun 10, 2020

With reports this week that a broad majority in the Norwegian Parliament supports proposed tax breaks to help the oil and gas industry affected by low oil prices, oil industry is responding and promising investments.On the back of the stimulus from the government in the form of temporary tax breaks…

Enterprise Working to Address Delays with SPOT Offshore Terminal

Jun 10, 2020

Enterprise Products Partners LP is working with U.S. officials to advance an offshore crude terminal project after the review schedule was suspended last week, the company said.Enterprise and Enbridge Inc agreed late last year to jointly develop a U…

First Major US Offshore Wind Farm Reaches Permitting Milestone

Jun 09, 2020

The first major U.S. offshore wind farm, planned for the Massachusetts coast, reached a key permitting milestone on Tuesday with the release of a long-awaited federal environmental study that considers the project's impacts on fisheries and navigation…

Greece, Italy to Sign Accord on Maritime Zones

Jun 09, 2020

Greece and Italy will sign an agreement on maritime boundaries during a visit by Italy's foreign minister to Athens on Tuesday, the Greek Foreign Affairs Ministry said.The deal follows months of tensions in the Eastern Mediterranean region over natural resources…

Norway Parliament Grants More Tax Relief to Oil Companies

Jun 08, 2020

Norway's parliament has agreed to give additional tax breaks to the oil industry on top of those proposed by the minority government in a bid to spur investment and protect jobs, the ruling Conservative Party said on Monday.Equinor and other oil firms…

No Change to Rosneft Sanctions Despite Ownership Change

Jun 08, 2020

Russia lowering its direct stake in top oil producer Rosneft will not alter its exposure to U.S. sanctions, a U.S. Treasury spokesman told Reuters.State holding company Rosneftegaz has lowered its 50.33% direct stake to 40.4% with subsidiary RN-NeftKapitalInvest taking 9…

UK Turns Down Vattenfall's Offshore Wind Plan

Jun 04, 2020

The British government has turned down an application by Vattenfall to build an extension to its Thanet offshore wind farm, citing potential navigational risks.Vattenfall applied to build an offshore wind power station of up to 340 megawatts…

Nigeria Launches Licensing Round for Marginal Oilfields

Jun 02, 2020

Nigeria has launched its first licensing round for marginal oilfields in nearly 20 years, the Department of Petroleum Resources (DPR) said on Monday, despite court rulings last week that barred some of the fields from being auctioned.Marginal…

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