New Zealand's maritime safety authority has greatly increased the insurance cover or other financial security that owners must have to cover marine oil spills from their offshore installations.Under recent amendments to the Marine Protection Rules Part 102…
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 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'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…
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…
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…
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…
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…
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 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…
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…
Oil and gas firm Bahamas Petroleum Company, expected to spud its first well offshore the Bahamas later this year, has expanded its portfolio.The company on Tuesday said it has been awarded the AREA OFF-1 petroleum licence offshore Uruguay. According to Bahamas Petroleum…
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'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…
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…
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