Offshore Drilling Slows down As Democrats Rein In Big Oil

Like the Chernobyl nuclear disaster did not prevent the nuclear power industry from continuing to operate, offshore oil drilling is not going to be banned in the wake of the BP Deep Water Horizon tragedy.

Rapper Drake has teamed with organizations Green The Block and The Hip-Hop Caucus to help promote a cleaner green environment.

Imagine two of London’s biggest and most familiar landmarks: the Swiss Re tower, better known as the Gherkin, and the London Eye. Take the wheel of the London Eye and stick it onto the Gherkin so that the tops of the wheel and the tower are level.

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BP’s containment cap is a success

BP Plc says its containment cap on a seabed oil leak in the Gulf of Mexico collected about 15,800 barrels (660,000 gallons/2.5 million liters) of oil on Wednesday.

U.S. Senators called for stronger safety measures in the oil and gas industry in the wake of a series of accidents in recent months in a hearing Thursday morning.

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Families urge President Obama to continue offshore drilling

Families of workers killed in the BP Deepwater Horizon explosion that triggered the Gulf oil gusher urged President Obama to keep drilling yesterday.

Grid Petroleum Corp with its exploration and development program ongoing, has taken the opportunity to review its position in the energy sector in the light of recent developments in the energy exploration and production industry.

Big oil is still king in this tiny southern Louisiana town. The area’s entire economy is struggling in the wake of the Gulf oil spill, and the trickle-down effect within the local economy has cost Monette Merange’s T-shirt business $5,000 since the spill started.But the oil industry still has her support, she says.

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Offshore Oil Firms Feel The Heat

BP faces growing pressure from Washington and Wall Street, but the current environment is no picnic for its kin either.

Before the spill, the Obama administration lifted the moratorium on drilling in U.S. coastal waters as a way to address the country’s energy needs.

Perhaps it’s the difficulty in imagining oil washing up on your beaches and tourists vanishing versus the reality of it, but Florida voters have done a remarkable 180 in their views on offshore drilling, going from strongly in favor to opposed in a huge 48-point swing in today’s Quinnipiac poll.

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Gas prices to hold steady this summer

After more than a month of plummeting, gasoline prices in Gainesville and the rest of the state have retreated from nearly $3 a gallon to below $2.70 a gallon — welcome news to local drivers looking for a break on rising costs.

Standards & Poor’s Ratings Services took several negative ratings actions, including four downgrades, on eight U.S. oil and gas companies following the U.S. Department of the Interior’s extension of the moratorium on drilling permits.

Samson Oil & Gas Limited advises that the Gary 1-24H well has been drilled horizontally from the 7-inch casing shoe to a measured depth of 14,768 feet having made 3,033 feet of progress in the past 48 hours.

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Diamond Offshore Confirms No Leaks of Oil from Ocean Saratoga Drilling Rig

Diamond Offshore Drilling Inc. today confirmed that there have been no leaks of hydrocarbons from the semisubmersible drilling rig Ocean Saratoga.

The heart-wrenching sight of oil gushing from the seabed and drifting into fragile wetlands along the Gulf Coast has shaken our confidence in deepwater drilling and especially in BP, whose apparent recklessness deserves the stiffest penalties possible.

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Offshore drilling insurance rates to jump

Insurance premiums for offshore drilling operations are expected to jump significantly in wake of the Gulf oil spill disaster, Moody’s Investors Service said.

As sickening images of oil-soaked waterfowl, ravaged crucial marshlands and despoiled beaches emerge out of the U.S. Gulf Coast from an offshore drilling disaster expected to continue well into the summer, it’s shocking to learn that Canada has watered down drilling regulations off its East Coast.

A sense of gloom is spreading through the nation’s energy industry from the Gulf of Mexico, and it’s touching Alaska.

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LOOP offshore oil port staying open despite spill

The Louisiana Offshore Oil Port is and plans to remain operational despite remnants of the Gulf of Mexico oil spill passing by “We are not closing.

The Indian government today granted state-run oil companies ONGC and OIL freedom to price any additional natural gas produced from blocks given to them on nomination basis at market rates.

The Harper government has watered down regulations governing oil drilling off Canada’s East Coast so that oil companies don’t need a backup plan to drill a relief well in the event of a blowout.

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BP tries Risky Move to Contain Flow.

BP PLC, facing rising public anger in the U.S., began Monday its third attempt to contain oil from its leaking well in the Gulf of Mexico, but the risky operation could make the spill worse in the short term.

The Gulf of Mexico accounts for almost a third of America’s oil production and the lion’s share of new discoveries.

Most dry land has been picked over, and better technology allows exploration in ever deeper waters. The consolidated financial and operating results include Canadian Phoenix and its controlled subsidiary Serrano Energy Ltd.

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Canada still inviting offshore drilling bids

The federal government is moving ahead with plans to grant new offshore oil-exploration licences in Canada’s Arctic, despite the U.S. government’s expanding freeze on offshore drilling in the wake of the Gulf Coast spill.

President Barack Obama said BP has been told to try a different procedure to stop the oil leak in the Gulf of Mexico now that the “top kill” effort has failed.

Ensco PLC has dropped plans to buy Scorpion Offshore, the offshore contract drilling company said Friday.

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