Yuval Steinitz, minister of national infrastructure, energy and water resources, presented proposed guidelines for Israel’s offshore gas reserves, Bloomberg said. Development of one of the largest deepwater discoveries could result.
Multiple political and military trends, along with the rise in U.S. crude oil and natural gas production, are occurring at the same time. And that makes for an uneasy situation, Tom Petrie says.
The bill has been delayed in parliament for six years due to political wrangling and opposition by international energy companies against proposed tax and royalty terms, deterring investment into Africa’s top oil producer.
Anadarko could pay more than $1 billion in civil fines, and BP could pay $13.7 billion, after U.S. Supreme Court rejected appeals related to Deepwater Horizon oil spill, Bloomberg said.
Local officials in Lancashire County, England, rejected Cuadrilla Resources Ltd.’s plans to drill shale gas at Preston New Road site, Bloomberg said. Roseacre site drilling plans were rejected last week.
Nigerian National Petroleum Corp. lost regulatory authority by President Muhammadu Buhari in an anti-corruption move, Bloomberg said. During recent elections, Buhari’s congress said the company would be broken into units.
Top American companies including ExxonMobil Corp. stayed out of greenhouse-gas emissions initiative. The U.N. told six European oil majors to plan phasing out of fossil fuels by 2100, Bloomberg said.
Top Israeli ministers meet about regulatory stall over developing Tamar and Leviathan offshore gas fields. Proposed plan has Noble and Israel’s Delek selling stakes in smaller offshore fields, Bloomberg said.
Norwegian Shipowners’ Association represents employers in mediation with Industri Energi union, DSO union members. Without deal, workers on two Teekay-owned ships in Knarr and Varg fields will strike, Bloomberg said.
Dutch environmental group Urgenda Foundation sought 40% reduction in greenhouse-gas emissions in November 2012 lawsuit. Recently, a Hague district court said Netherlands’ government must guard against climate change, Bloomberg said.
Following discussions with the Ugandan government and the URA, Tullow has agreed to pay $250 million in full and final settlement of its CGT liability, according to a news release.
The blocks are located on the outer shelf and upper slope of the Gulf of Mexico in water depths of less than 1,000 feet, the release said.