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Tag Archives: offshore oil production

Low oil price hits $200 billion in mega-projects

LONDON (Reuters) – Deepwater oil projects and complex gas facilities worth around $200 billion have been canceled or put on hold worldwide in recent months due to the sharp drop in oil prices over the past year, consultancy Ernst and Young said on Tuesday. Further project cuts and delays are likely as the industry braces for an extended period of ...

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EDITORIAL: No hurry to drill

Gov. Pat McCrory is in a big hurry to develop a hard-to-get resource that’s not going anywhere. “States such as North Carolina are willing to make significant investments now” in building infrastructure for an offshore energy industry, McCrory told a congressional subcommittee April 15. He urged support for faster leasing of more territory off the North Carolina coast. The governor ...

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Shell’s Brazil strategy factors in Petrobras scandal – CEO

BRASILIA – Royal Dutch Shell Plc has taken into account the risks presented by the Petrobras graft scandal to its expanding operations in Brazil and is confident the Brazilian state-run oil company will emerge stronger, Shell’s CEO said on Thursday. Chief Executive Ben van Beurden said oil production from Brazil’s offshore subsalt region will remain profitable, and predicted that oil ...

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Pemex begins to restore production at fire-damaged platform

MEXICO CITY — Mexico’s state-run oil company continues to search for three missing workers from a platform fireball that killed four others, while beginning to restore production at the damaged Gulf of Mexico facility, officials said Sunday. Petroleos Mexicanos, or Pemex, will start processing 170,000 barrels of crude by Monday and expects to restore 80 percent of the pre-fire production ...

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