Offshore Regulations - page 7

UK Sets Out Energy Plans, Critics Bemoan Lack of Clean Tech Boost

Mar 30, 2023

Britain set out plans to boost energy security and tackle emissions on Thursday, but critics said a lack of new investment and incentives meant it failed to provide any new boost for the country's green energy sector.Britain's net zero start…

Petrobras Resists Brazil Gov't Calls to Reverse Asset Sales

Mar 30, 2023

The board of Brazil's state-run oil firm Petrobras on Wednesday resisted pressure from the government to reverse asset sales, citing its obligation to follow a multi-year strategic plan and respect existing contracts. Brazil's Mines and Energy…

Chevron, Exxon Big Buyers in U.S. Gulf of Mexico Drilling Auction

Mar 30, 2023

A U.S. government auction of oil and gas drilling rights in the Gulf of Mexico generated $263.8 million in high bids, the most of any sale in the region for years and the first test of demand for investment since the Russian invasion of Ukraine…

UK Oil, Gas Firms to Leave Year's Worth of Output in Ground with Tax Hikes

Mar 28, 2023

Windfall taxes mean oil and gas producers in the British North Sea will likely leave 500 million barrels of oil equivalent in the ground over the next decade, the equivalent of one year's output in the aging basin, industry group OEUK said on Tuesday…

Brazilian Authorities Launch Probe Against Sembcorp Marine Unit

Mar 24, 2023

Brazilian authorities have reportedly launched a preliminary investigation into the Brazilian subsidiary of the Singapore-based marine and offshore engineering group Sembcorp Marine.'Sembcorp Marine Ltd wishes to inform that it has come to its…

UK Oil Firm Faces Scrutiny, Penalty over Failure to Shoot Seismic Survey

Mar 21, 2023

The UK offshore oil and gas regulator North Sea Transition Authority (NSTA) is investigating an unnamed oil company for possibly failing to meet licence commitments designed to stimulate activity, in support of the UK’s energy security.The North…

After Delay, BW Energy Expects Closing of Petrobras' Oil Field Acquisition in Q2 2023

Mar 17, 2023

Oslo-listed oil and gas company BW Energy said Thursday the process to acquire Petrobras' interests in Golfinho and Camarupim deepwater oil fields and the related FPSO from Saipem was about to resume.In June 2022, BW Energy signed an agreement…

EU Announces Plans to Lead Green Industrial Revolution

Mar 17, 2023

The European Commission presented the centerpieces of a strategy on Thursday to ensure its industry can compete with the United States and China in making clean tech products and accessing raw materials required for the green transition.The…

U.S. Judge Dismisses Lawsuit Challenging Offshore Wind Farm Development Plans

Mar 14, 2023

A federal judge has dismissed a lawsuit filed by New York and New Jersey residents challenging preliminary government plans for offshore wind farm development off the Atlantic coast.U.S. District Judge Dabney Friedrich in Washington, D.C., said [last] Thursday that the U…

Biden Administration to Designate 2.8 Million Acres in Arctic Ocean off-limits for Oil and Gas Leasing

Mar 13, 2023

The U.S. Department of the Interior said Monday that President Biden would take action to designate about 2.8 million acres in the Arctic Ocean nearshore the National Petroleum Reserve-Alaska (NPR-A) as indefinitely off-limits for future oil and gas leasing…

Britain's Tax Take Risks Blowing Green Energy Off Target

Mar 13, 2023

A cap on revenue and the lack of the kind of incentives offered to oil explorers are blocking the development of renewable energy in Britain, say industry officials who are pressing for changes ahead of this week's budget.The British government has set targets for major increases in wind generation…

Exxon-led Consortium Ready to Relinquish 20% of Guyana Offshore Oil Block, Hess CEO Says

Mar 09, 2023

Hess Corp indicated the consortium that controls Guyana's oil production, of which it is a member, is prepared to relinquish 20% of the Stabroek oil block, but not any areas where it now produces or intends to produce oil in the future. An Exxon Mobil-led consortium controls the 6…

US Plans No Wider Easing of Sanctions on Venezuela, Official Says

Mar 08, 2023

The U.S. government is not planning a systematic easing of sanctions on Venezuela after an initial round allowed partners of state-run oil firm PDVSA to resume taking oil for past debts, a State Department official said.In November, Washington issued a six-month license allowing Chevron Corp…

Denmark Resumes Review of Two Suspended Offshore Wind Farm Applications

Mar 06, 2023

Denmark has resumed its review of two of the 33 offshore wind farm applications it suspended last month over worries of breaching European Union state aid rules, the Energy Agency said on Friday.Denmark, which aims for a fivefold increase in offshore wind power capacity by 2030…

Specialist Lawyers Flag Potential Lawsuits against Petrobras after Asset Sales Suspension

Mar 06, 2023

Petrobras could face lawsuits for breach of contract after the company halted planned asset sales at the request of Brazilian leftist President Luiz Inacio Lula da Silva's government, specialist lawyers said on Friday.Petroleo Brasileiro SA…

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