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Gulf Of Mexico News

 

Opinion: Global Oil Market is Tight, Despite what Producers Say

Oct 18, 2021

Global petroleum inventories have fallen to their lowest seasonal level for seven years as producers have failed to raise output to match the rapid rebound in consumption since last year’s coronavirus-driven recession.In contrast to shortages in coal, gas and electricity, the oil shortage is largely discretionary, as producers in the OPEC+ group of major exporting countries and U.S. shale firms have opted to limit increases in their output…

Woodside Confirms Talks to Buy BHP's Oil and Gas Business

Aug 16, 2021

Australian oil company Woodside confirmed Monday it has been in talks with BHP over the potential acquisition of BHP's oil and gas business.'Woodside notes recent speculation regarding a potential transaction between Woodside and BHP Petroleum…

Japan's Inpex Beefs Up Stake in Gulf of Mexico Fields

Feb 03, 2021

Japanese oil firm Inpex has increased its share in Lucius and Hadrian North fields in the U.S. Gulf of Mexico.The company on Tuesday said it had acquired 2.3546% interest of the participating interest (23.29512%) in the Lucius and Hadrian North fields previously held by ExxonMobil…

Hess Cuts 2020 Output Forecast Slightly Due to Hurricanes, Lower SE Asia Production

Oct 28, 2020

U.S. oil and gas producer Hess Corp reported a bigger-than-expected quarterly loss on Wednesday and slightly lowered its full year production forecast, as its operations were hit by hurricanes in the Gulf of Mexico and lower production in South East Asia…

Otto Energy Looking to Appoint Gulf of Mexico Veteran as New CEO

Jun 12, 2020

Oil and gas company Otto Energy has said that Matthew Allen will step down as Chief Executive Officer and from the Board as Managing Director effective immediately by mutual agreement following the completion of his two-year assignment to Houston…

Subsea 7 to Tie Murphy's Discoveries to King's Quay FPS

Mar 03, 2020

Offshore installation contractor Subsea 7 on Tuesday said it had won a contract from Murphy Oil for the provision of the subsea installation services related to the Samurai, Khaleesi, and Mormont developments in the U.S. Gulf of Mexico.The contract…

GoM Lease Fetches $159mln in High Bids

Aug 23, 2019

Gulf of Mexico (GoM) Lease Sale 253 in New Orleans generated over $159 million in high bids for 151 tracts covering 835,000 acres in federal waters.Twenty-seven companies participated in the lease sale, submitting approximately $175 million in bids…

NOIA Weighs in on The COASTAL Act

Aug 02, 2019

National Ocean Industries Association (NOIA) Vice President for Government and Political Affairs Tim Charters issued the following statement after the introduction of the Conservation of America’s Shoreline Terrain and Aquatic Life (COASTAL)…

Repsol, LLOG to Partner on Deepwater US Gulf Developments

May 01, 2019

The U.S.-based exploration and production company LLOG Exploration Offshore and  Spanish oil company Repsol announced the signing of an Asset Exchange and Joint Participation Agreement in the deepwater Gulf of Mexico.The agreement provides for…

Current News

Morgan Stanley Slashes Q1 2022 Brent Crude Price Forecast on Omicron Risks

Morgan Stanley Slashes Q1 2022 Brent Crude Price Forecast on Omicron Risks

Expro Reels in $50M Worth of Subsea Contracts in Malaysia, Australia

Expro Reels in $50M Worth of Subsea Contracts in Malaysia, Australia

Shell, CoensHexicon JV Gets EBL for Floating Wind Project in South Korea

Shell, CoensHexicon JV Gets EBL for Floating Wind Project in South Korea

Iran, Turkmenistan, Azerbaijan in Gas Swap Deal

Iran, Turkmenistan, Azerbaijan in Gas Swap Deal

Omicron Threatens Oil Demand Recovery

Omicron Threatens Oil Demand Recovery

Australia: Western Gas Hires Valaris Offshore Rig for 'High-impact' Sasanof Offshore Well

Australia: Western Gas Hires Valaris Offshore Rig for 'High-impact' Sasanof Offshore Well

UK North Sea: CNOOC Brings Online Buzzard Phase II

UK North Sea: CNOOC Brings Online Buzzard Phase II
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