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Oilfield Approval Off Newfoundland Coast Would Undercut Climate Commitments, Harm Biodiversity, Experts Warn
Oilfield Approval Off Newfoundland Coast Would Undercut Climate Commitments, Harm Biodiversity, Experts Warn Berardo62/flickr Anxiety is running high in Newfoundland and Labrador as the province waits on a federal decision about a proposed offshore oil project about 500 kilometres east of St. John’s. Equinor’s Bay du Nord project would open a fifth oilfield for the […]
Oil Producers May Ditch Old FPSO Offshore Projects In This Downturn
Oil Producers May Ditch Old FPSO Offshore Projects In This Downturn The swift oil price crash caused by the Covid-19 pandemic will reduce the combined free cash flow of FPSO fields, which have produced above three quarters of their original resources at just $2.20 per barrel this year. This is a jaw-dropping decline from 2019’s […]
Note to EIA: Major shale operator sending cash elsewhere
Note to EIA: Major shale operator sending cash elsewhere John Hess, CEO of Hess Corporation, a large U.S.-based independent oil producer, recently told a Houston audience where he’s putting the company’s money these days: Offshore drilling. That should strike those who know of Hess Corporation’s heavy involvement in the Bakken shale play (in North Dakota) as […]
Flirting With Disaster: the Return of Offshore Drilling
Flirting With Disaster: the Return of Offshore Drilling Photograph by TheConduqtor It’s been decades since a fisherman out of Montauk on Long Island told me about seeing a ship in the Atlantic Ocean east of Long Island similar to those he had seen searching for oil in the Gulf of Mexico when he was a […]
Trump’s Offshore Drilling Plan Is A Slippery Slope
Trump’s Offshore Drilling Plan Is A Slippery Slope The Trump Administration has offered to open more than 90 percent of the federal Outer Continental Shelf (OCS) for consideration of future exploration and development. The proposal is in stark contrast to the current lease sale program that puts 94 percent of the shelf off limits. “The […]
Coastal States Protest Trump’s Offshore Drilling Plan
Coastal States Protest Trump’s Offshore Drilling Plan Less than a week after the Trump Administration proposed to open almost the entire U.S. coast to oil and gas drilling, Secretary of the Interior Ryan Zinke backtracked and took Florida off the table for offshore oil and gas exploration. Now many are wondering why just Florida was […]
Shell ends exploration in Arctic near Alaska ‘for the foreseeable future’
Shell ends exploration in Arctic near Alaska ‘for the foreseeable future’ Shell spent upward of $7 billion US on offshore development in Chukchi, Beaufort seas Royal Dutch Shell will cease exploration in Arctic waters off Alaska’s coast following disappointing results from an exploratory well it just completed. Shell found indications of oil and gas in […]
Greenwash: Shell May Remove “Oil” From Name as it Moves to Tap Arctic, Gulf of Mexico
Greenwash: Shell May Remove “Oil” From Name as it Moves to Tap Arctic, Gulf of Mexico Shell Oil has announced it may take a page out of the BP “Beyond Petroleum” greenwashing book, rebranding itself as something other than an oil company for its United States-based unit. Marvin Odum, director of Shell Oil’s upstream subsidiary companies in the Americas, told Bloomberg the name Shell […]
