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Norway will appoint a public commission to look into the safety of the country’s offshore oil and gas industry following a recent string of accidents, the government said on Nov. 29.
Mexico’s oil regulator on Oct. 3 gave oil companies an extra week to submit comments and questions about the country’s first-ever deepwater joint venture covering state oil company Pemex’s Trion Field.
A bill ending the requirement that Brazil’s state-controlled Petrobras must lead all new projects in the country’s Subsalt Polygon region should become law by year-end 2016, the president of oil industry association IBP said on Sept. 28.
Mexico’s Finance Ministry announced on Sept. 6 the minimum value of additional royalties for companies participating in a deepwater oil tender, one of the most highly anticipated auctions since the opening of the local oil industry.
Norway will review whether to tighten offshore safety rules after “repeated failures” at Eni's Arctic Goliat Platform, including a power outage during the week of Aug. 22, a minister said.
The U.K. Department of Energy and Climate Change (DECC) has been abolished by the newly appointed U.K. Prime Minister Theresa May, who stood up the Business, Energy and Industrial Strategy Department in its place.
A bill that would allow companies other than state-led Petrobras to run new oil and gas projects in Brazil’s prolific subsalt region advanced on July 7 when a committee of the lower house of Congress voted to recommend it in hopes of reviving stalled petroleum investment.
The U.K. subsea industry has urged the government to do everything it can to protect the $13 billion sector in the face of lower oil prices.
U.K. chancellor George Osborne has announced a major overhaul of the North Sea tax regime in response to difficulties facing the oil and gas sector, although whether it is major enough remains debatable.
Oil & Gas UK has called for tax changes in the forthcoming budget to boost the industry’s competitiveness and investors’ confidence in the U.K. Continental Shelf.
The U.K.’s Oil and Gas Authority (OGA) has launched a competition linked to future exploration licensing rounds to stimulate further offshore oil and gas exploration activity in the U.K. Continental Shelf.
The Oil & Gas UK (OGUK) 2016 Activity Survey paints a sorry picture for the region.
The new survey reveals that while the industry’s drive to improve efficiency, reduce operating costs and increase production has had marked success, exploration remains at an all-time low with no sign of improving.