Offshore Regulations - page 7

Japan Consortium to Apply for Stake in New Operator of Russia's Sakhalin-1 Project

Nov 04, 2022

Sakhalin Oil and Gas Development Co (SODECO), a Japanese consortium, has decided to participate in the new Russian operator of the Sakhalin-1 oil and gas project in the Far East, an official at the Japanese industry ministry said. SODECO, which…

Booming Guyana Sets Offshore Oil Auction Under Revamped Fiscal Terms

Nov 04, 2022

Guyana, one of the world's hottest oil drilling zones, will offer 14 offshore exploration blocks under terms that 'significantly' increase its share of oil revenue, the South American nation's vice president said on Thursday. Officials this…

Harbour Energy Expects $400M in UK Windfall Tax This Year

Nov 03, 2022

Harbour Energy on Thursday forecast liabilities from the UK's windfall tax on energy companies to be about $400 million this year, and urged the government to 'carefully consider' the consequences of any increase or extension to the scheme. The…

Biden Calls on Oil, Gas Firms to Stop 'War profiteering,' Threatens Windfall Tax

Nov 01, 2022

U.S. President Joe Biden on Monday called on oil and gas companies to use their record profits to lower costs for Americans and increase production, or pay a higher tax rate, as he battles high pump prices with elections coming in a week. In remarks at the White House…

U.S. Designates Offshore Wind Farm Development Areas in Gulf of Mexico

Oct 31, 2022

The U.S. Gulf of Mexico, best known to the offshore energy industry as an oil and gas province, is for the first time opening its doors to the offshore wind industry, with the U.S administration on Monday designating two areas for offshore wind development in the region…

Oil Firm Rockhopper 'Disappointed, But Not Surprised' as Italy Seeks to Overturn Ombrina Mare Ruling

Oct 31, 2022

Oil and gas company Rockhopper Exploration said Monday that Italy was working to annul the August ruling by an arbitration panel under which Italy has to pay 190 million euros plus interest to Rockhopper for breaching its obligations related to the company's Ombrina Mare field in the Adriatic Sea…

Nigeria Planning Auction for Seven Deep Offshore Oil Blocks

Oct 31, 2022

Nigeria is planning to auction seven deep offshore oil blocks, 15 years since the last ones were auctioned, the upstream regulator said on Saturday. Apart from marginal fields, Nigeria last conducted bidding for 45 oil blocks in 2007 even when…

UK: Oil Firms Failing to Meet Drilling Obligations Face Financial Penalties

Oct 28, 2022

The UK oil and gas regulator North Sea Transition Authority (NSTA) warned the industry on Friday that it would not hesitate to take action against companies that fail to meet their license obligations. 'An investigation has been opened into whether a company…

Israeli Court Gives Green Light to Lebanon Maritime Deal

Oct 24, 2022

Israel's Supreme Court on Sunday rejected petitions that would have held up a landmark U.S.-brokered deal setting a maritime border with Lebanon, which Washington predicted could be finalized on Thursday. Four groups, including an Israeli opposition lawmaker…

U.S. to Hold Gulf of Mexico Drilling Auction in March 2023

Oct 21, 2022

The Biden administration on Thursday said it would hold a Gulf of Mexico drilling auction in March of next year to satisfy a requirement in the government's new climate change law.The Bureau of Ocean Energy Management (BOEM) will offer all of…

DNV, JIP Partners Enter Phase 2 To Develop Best Practices For Safe Offshore Wind Installation

Oct 20, 2022

DNV and its partners on Thursday confirmed the completion of Phase 1 of a joint industry project (JIP) on Bottom Impact and Partially Submerged Conditions, which has resulted in a new framework for optimizing the installation process of offshore wind turbines…

Exxon Exits Russia Empty-handed with Oil Project 'Unilaterally Terminated'

Oct 18, 2022

Exxon Mobil Corp said on Monday that it left Russia completely after President Vladimir Putin expropriated its properties following seven months of discussions over an orderly transfer of its 30% stake in a major oil project.  Exxon did not say if it received any compensation for the assets…

Lebanon Claims Israeli Gunboats Violated Its Territorial Waters

Oct 17, 2022

The Lebanese army said on Sunday that Israeli gunboats violated Lebanese territorial waters several times on Saturday in an area opposite Ras Naqura near the border between the two countries, an accusation Israel denied.The statement said there…

Russia Needs Permission for Its Ships to Inspect Nord Stream Damage - Novak

Oct 14, 2022

Russia needs permission for its vessels to conduct investigations into explosions that damaged Nord Stream pipelines in the Baltic Sea, Deputy Prime Minister Alexander Novak said on Friday. He did not specify who should grant the permission…

UK Adds 34 Blocks to Latest Oil and Gas Licensing Round

Oct 13, 2022

Britain is offering an additional 34 exploration blocks to its first oil and gas exploration licensing round since 2019, the North Sea Transition Authority (NSTA) said on Thursday. On Oct. 7, the NSTA initially offered 898 blocks, encouraging applications…

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