Two weeks of losses in U.S. offshore energy production spiraled on Thursday, with prolonged outages from Hurricane Ida leading to oil contract cancellations around the globe. Three-quarters of U.S. Gulf of Mexico oil production remained offline…
Offshore energy firms are likely to face greater financial losses from Hurricane Ida than from previous storms in the Gulf of Mexico, because of reduced coverage offered by insurers, risk modeling firm RMS said on Thursday.Ida, one of the most powerful hurricanes ever to strike the area…
U.S. oil offshore losses remained at 76% on Thursday after Hurricane Ida hit the Gulf of Mexico, according to government data, which prolonged outages and caused the first oil cargo shipment cancellations to buyers in Asia.Production should…
Royal Dutch Shell Plc is beginning the redeployment of personnel to its Appomattox platform in the Gulf of Mexico while damage assessments are continuing at its West Delta-143 (WD-143) offshore facility after Hurricane Ida.As of Wednesday, more than three-quarters of the U…
Cenovus Energy Inc has entered into agreements with its partners in the Atlantic region to restructure the company's working interests in the Terra Nova and White Rose projects, the oil and gas producer said on Wednesday.The deals will raise…
Occidental Petroleum Corp on Wednesday said in a securities filing seven of its 10 offshore oil production platforms in the U.S. Gulf of Mexico remain offline since Hurricane Ida.Hurricane Ida tore through the Gulf of Mexico late last month…
Hurricane Ida's damage to U.S. offshore energy production makes it one of the most costly since back-to-back storms in 2005 cut output for months, according to the latest data and historical records.Ida's 150 mile-per-hour (240 kph) winds cut…
Alaska regulators must probe a Hilcorp Energy Company pipeline that has repeatedly leaked natural gas into Cook Inlet, the state Supreme Court ruled on Friday.The court said the Alaska Oil and Gas Conservation Commission improperly rejected…
Stronger hurricanes threatening the U.S. Gulf Coast energy hub are elevating the risks of oil spills from damage to area refineries, oil platforms and subsea pipelines, say experts.On Monday, the U.S. Coast Guard said it was investigating nearly…
Mexican President Andres Manuel Lopez Obrador said on Monday his government is tackling the debt burden of state oil company Petroleos Mexicanos (Pemex) and hinted he would try to use funds from the International Monetary Fund (IMF) to do so…
U.S. oil firm Talos Energy has filed notices of dispute to the Government of Mexico over decisions taken by Mexico's Ministry of Energy ('SENER'), which awarded the rights to the Zama offshore oil discovery to the Mexican national oil company Pemex…
The U.S. Coast Guard on Monday said it was probing nearly 350 reports of oil spills in and along the U.S. Gulf Coast in the wake of Hurricane Ida.Hurricane Ida's 150 mile per hour (240 kph) winds wreaked havoc on offshore oil production platforms and onshore oil and gas processing plants…
Damage to oil production facilities in the U.S. Gulf of Mexico kept output largely halted on Sunday, a week after Hurricane Ida made landfall, according to offshore regulator the Bureau of Safety and Environmental Enforcement (BSEE).Energy companies…
A private dive team will try to locate the source of a suspected oil spill spotted in the Bay Marchand area of the Gulf of Mexico on Sunday, after Hurricane Ida wreaked havoc in the region this week, the U.S. Coast Guard said on Saturday.U.S…
Insurers are bracing for a hit of about $1 billion from physical damage to offshore rigs and structures from Hurricane Ida, according to preliminary estimates from U.S. property data and analytics company CoreLogic.The estimate did not include…