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BSEE reports on GOM evacuation progress

August 25, 2020
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Bureau of Safety and Environmental Enforcement (BSEE) Hurricane Response Team continues to monitor Tropical Storm Marco in the Gulf of Mexico and Tropical Storm Laura as it makes its way into the Gulf of Mexico. The Hurricane Response Team is monitoring offshore oil and gas operators in the Gulf as they evacuate platforms and rigs in response

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Guyana re-launches search for company to market government’s crude

August 25, 2020
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Guyana has re-launched a search for a company to market the government’s share of the crude produced at the offshore Liza project, operated by Exxon Mobil Corp , according to a notice published in the South American country’s newspapers. President Irfaan Ali’s government scrapped a previous, similar process initiated by Ali’s predecessor shortly after taking office in August.

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NYSE to delist Valaris stock following Chapter 11 Filing

August 25, 2020
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Valaris plc announced today that on August 19, 2020 it was notified by the New York Stock Exchange (“NYSE”) of its determination to indefinitely suspend trading of the Company’s common stock and to commence proceedings to delist the Company’s common stock from the NYSE. This suspension and delisting by the NYSE is in accordance with Section 802.01D

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Hurricane Laura poses biggest threat to U.S. oil in 15 years

August 25, 2020
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The U.S. energy industry began preparing for a major hurricane strike by Tuesday, cutting crude production at a rate approaching the level of 2005’s Hurricane Katrina and halting oil refining at plants along the Texas/Louisiana coast. The storm will rapidly gain strength and become a major hurricane with sustained, 115 mile per hour (185 kph) winds when it

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Seadrill says debt talks may leave owners with nothing

August 25, 2020
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Offshore drilling rig contractor Seadrill’s ongoing attempt to restructure its massive debt could leave current shareholders with minimal or no ownership at all, the Oslo-listed company said on Tuesday. Demand for exploration and drilling has fallen further during the COVID-19 pandemic as oil firms seek to preserve cash, idling more rigs and leading to additional overcapacity among companies

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Barron Petroleum makes massive find in Permian

August 24, 2020
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Thanks to a partnership with a geoscientist in the Permian Basin, a family-owned oil company is celebrating its largest discovery yet: a 13,000-acre field in Val Verde County holding an estimated 417 billion cubic feet, or 74.2 million barrels, in oil and gas reserves. Barron Petroleum, based in Graham, announced the discovery on Monday after working with scientist

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Brazil prosecutors accuse two people in alleged Petrobras-Maersk corruption scheme

August 21, 2020
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Brazilian prosecutors pressed charges on Friday against two people for their alleged role in a scheme to obtain confidential market information from Petrobras to benefit Danish Maersk, the world’s largest shipping company. The case is a development of an investigation involving suppliers like Maersk that started in 2014 as part of the sprawling Car Wash scandal, which has

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Petrobras fast tracks employee remote access provided by Microsoft

August 20, 2020
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Big Oil is tapping Big Tech to keep drilling off the shores of Brazil even as the global pandemic traps workers at home. Confronted with the need to keep employees working remotely, Petroleo Brasileiro SA fast-tracked a move to a Microsoft Corp. cloud platform it had already been testing before lockdowns, Fernando Lemos, Microsoft’s chief technology officer in

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Maersk Drilling secures one-well gig for the Integrator

August 20, 2020
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Maersk Drilling has been awarded an additional one-well contract from Aker BP for the low-emission jack-up rig Maersk Integrator. In direct continuation of its previously announced work scope, the rig will move to the Ula field offshore Norway to drill the Ula F – Producer 1 well. The contract has an estimated duration of 85 days and

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