Offshore Regulations - page 5

 

Brazil Passes Bill Dividing TOR Proceeds

Oct 15, 2019

Brazil's Senate unanimously approved the main text of a bill on Tuesday night that clears the way for what may be a record-setting offshore oil rights auction in the Latin American oil powerhouse.The bill regulates how proceeds from the blockbuster 'transfer of rights' oil auction scheduled for Nov…

Can Liability Really Be Perpetual?

Oct 15, 2019

How to manage the legacy left by industrial development can be riddled with uncertainty and be enduring in nature. Perhaps understandably, the development of the UK’s offshore hydrocarbon reserves prioritized production considerations over those…

Denmark Weighs Ending North Sea Exploration

Oct 11, 2019

Denmark is assessing whether to go ahead with an already announced tender for new oil and gas exploration in the Danish North Sea after setting itself one of the most ambitious climate targets in the world.The new Social Democratic government…

Brazil Court Green Lights TOR Mega Auction

Oct 10, 2019

Brazil's Federal Audit Court known as the TCU unanimously approved on Wednesday the ground rules for a major auction of pre-salt oil concessions in a 'transfer of rights' (TOR) area off the country's southeastern coast.The government expects to raise 106 billion reais ($25…

Brazil's New Dawn

Oct 10, 2019

Brazil’s offshore oil and gas sector: it’s complicated, challenging and rife with opportunity.Brazil today is seeing offshore activity increase, production is on the rise, and its government has made significant strides to remove obstacles for investment…

Equatorial Guinea Says Currency Caps Will Hurt Energy Prospects

Oct 10, 2019

New currency controls enforced by the Bank of Central African States (BEAC) could ruin the oil and gas industry in the Gulf of Guinea and 'destroy' Equatorial Guinea's economy, the country's oil minister told Reuters on Wednesday.Equatorial Guinea…

Majors to Bid in Brazil's $800 Mln Oil Auction

Oct 10, 2019

BP PLC, Chevron Corp and Royal Dutch Shell PLC are among firms that will compete for exploration and production rights off the Brazilian coast on Thursday, in the first of three oil bidding rounds scheduled for coming weeks.Combined, the minimum…

Senegal Delays Oil Licensing Round

Oct 09, 2019

Senegal has delayed the launch of an oil and gas licensing round due on Wednesday until November 4 as contract documents still need to be finalized, oil minister Mahamadou Makhtar Cisse said.'We need to ensure the legal framework for investors…

Climate Stakes for Suppliers

Oct 03, 2019

After a week that saw Norway announce a record number of oilfields in operation and support for the UN Climate Change Committee’s new report, there’s a paradoxical window of opportunity for offshore suppliers offering increments of “green” savings…

14 Firms to Bid in Brazil's Massive TOR Auction

Sep 30, 2019

Fourteen companies have been officially approved by Brazilian authorities to participate in an oil bidding round in November, in which total signing bonuses are expected to be the biggest so far, exceeding $25 billion, national oil regulator ANP said on Monday…

Mozambique Eyes $880 Mln in Tax from Anadarko Takeover

Sep 27, 2019

Mozambique is targeting $880 million in capital gains tax from the takeover of Anadarko Petroleum by Occidental Petroleum, local newspaper O Pais reported on Friday.Anadarko led a liquefied natural gas project in the southern African country…

Chevron, Thailand in Dispute Over Decom Tab

Sep 26, 2019

U.S. energy major Chevron Corp has opted to continue negotiations with Thailand rather than seek arbitration to resolve a dispute over who should pay for removing offshore oil and gas platforms, the company told Reuters on Wednesday.Thailand…

Australia Reviewing Equinor Environmental Plan

Sep 20, 2019

Australian authorities say they have resumed assessing the environmental plan for Equinor's proposed exploration drilling activity in the Great Australian Bight after the Norwegian energy company provided additional information requested as part of the review…

Norway Mulls Blocking Prosafe's Floatel Acquisition

Sep 16, 2019

The Norwegian Competition Authority is considering blocking Prosafe's acquisition of its competitor Floatel International Ltd on the grounds that the combined firm would dominate its market, it said on Monday.The two companies are the only providers…

Norway Approves Tordis Extension

Sep 12, 2019

Norwegian authorities have given consent to operator Equinor to extend production from the Tordis field in the North Sea.Equinor, which had applied for consent to extend the operating life of the facilities on the Tordis field, is now approved to use of the facilities through 2036…

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