Malaysia won't stop South China Sea exploration, despite China protests says PM
Anwar Ibrahim, Malaysia's Prime Minister, said that the country would not stop oil and gas exploration on the South China Sea in spite of Beijing's claims that Malaysia had infringed on its territory. Anwar, who is currently in Russia on an official visit, stated that Malaysia's exploration was within its own territory, and it wasn't meant to be provocative towards China. Anwar stated in a Vladivostok televised news conference that "we will of course have to operate within our waters in order to secure an economic advantage. Malaysia's Foreign Ministry said Wednesday that it will investigate the leaked diplomatic note of the Chinese Foreign Ministry.
CNOOC Earnings on the Rise
China's national offshore producer CNOOC Ltd reported a near 19% rise in first-half profit on Thursday, as higher sales of oil and gas offset weaker global oil prices.The listed arm of state-owned China National Offshore Oil Corp said that it was able to manage the impact on its business of the China-U.S. trade war and CNOOC President Xu Keqiang said the company would boost oil output to offset currency effects amid the escalating trade tensions.CNOOC said its net profit totalled 30.25 billion yuan ($4.26 billion) for the six months through June.
Lebanon Announces Offshore Blocks
Lebanon announced on Friday five offshore blocks to be included in its coming bidding round for energy exploration and production licences, including four along disputed maritime borders.Offshore energy development has been a central ambition for successive governments in cash-strapped Lebanon, but political paralysis has caused years of delays.Blocks 8 and 10 both include waters also claimed by Israel, while blocks 1 and 2 include waters claimed by Syria. One of the two blocks for which licences were awarded last year, block 9, is…
US Lease Sale a Test for Drilling Demand
The Trump administration will hold its fourth major auction for oil and gas leases in the U.S. Gulf of Mexico on Wednesday, in a fresh test of demand from drillers that have lately been shying away from the region.The outcome of the lease sale will provide the last big signal from the industry about their interest in U.S. waters before President Donald Trump's Interior Department releases a long-awaited proposal to expand offshore drilling, possibly to new areas of the Atlantic, Pacific and Arctic.Wednesday's sale will include all available unleased areas in federal waters of the Gulf of Mexico…
Philippine Senators Ask Duterte to Disclose China Energy Plan
Philippine opposition senators have demanded President Rodrigo Duterte reveal details of joint energy exploration plans with China, warning such a deal risked affirming Chinese territorial claims that are not recognized under international law.Early this year, the two countries set up a joint panel to work out how to explore offshore oil and gas in areas that both claim, without addressing the explosive issue of who has the sovereign rights to them."Signing the Chinese deal will make the Philippines recognize an unlawful 'co-ownership' with China…
Turkey Warns Against Energy Exploration with Greek Cypriot Govt
Turkey warned energy companies on Sunday against working with the Greek Cypriot government in carrying out exploratory drilling in the eastern Mediterranean, saying such activities could damage regional stability.The eastern Mediterranean is believed to be rich in natural gas, and attempts to tap resources there have revived tensions between Turkey and Greece, which has a defense pact with the internationally recognized Greek Cypriot government.Turkey and Cyprus have overlapping claims of marine jurisdiction and both plan to carry out exploratory drilling this year.
Lebanon Prepares for Second Offshore Oil and Gas Licensing Round
Lebanon's energy minister said on Tuesday he had asked the country's petroleum authority to start preparing for a second oil and gas offshore licensing round, but did not give a timeline for when it might happen.Lebanon in February signed its first offshore energy exploration and production agreements for two of Lebanon's 10 offshore blocks with a consortium of France's Total, Italy's Eni and Russia's Novatek.Energy and Water Minister Cesar Abi Khalil told an oil and gas conference in Beirut on Tuesday that he had asked the Lebanese Petroleum Administration (LPA) last week to begin preparations for a second round."This is not the launch of the licensing round bu
China Says to Have "Prudent" Oil Exploration with Philippines
China will prudently advance cooperation with the Philippines on joint oil and gas exploration in the South China Sea, China's top diplomat State Councillor Wang Yi said on Wednesday after meeting his Philippine counterpart. Any potential deals between Manila and Beijing on energy exploration in the disputed waterway should be agreed with a company and not the Chinese government, a senior Philippine official said earlier this month. China claims most of the South China Sea, a key trade route and home to areas that are believed to hold large quantities of oil and natural gas.
Merkel Sees No Threat in New Gas Pipe to Russia, Poland Disagrees
The planned Nord Stream 2 gas pipeline connecting Germany and Russia poses no threat to Europe's energy security, Chancellor Angela Merkel said on Friday, publicly disagreeing with her Polish counterpart. Poland, Ukraine and Baltic states fear the pipeline to be laid under the Baltic Sea would increase Europe's dependence on Russian gas and could cut off Ukraine - still fighting a conflict with Russian-backed separatists - from gas transit fees. "We had different views on the Nord Stream issue," Merkel told reporters at a joint press conference with Polish Prime Minister Mateusz Morawiecki in Berlin. "We think this is an economic project.
Syria to Start Offshore Energy Exploration in 2019
Syrian offshore gas exploration will begin in early 2019, the country's oil minister has said, Syrian newspaper al-Watan reported on Wednesday. Oil and Mineral Resources Minister Ali Ghanem said contracts for five offshore blocks had been signed with "friendly countries". The report did not say which countries or companies were involved. He also said Syria has an estimated 1,250 billion cubic metres of offshore gas reserves. The report did not say when or how the Syrian government had appraised the reserves. In 2013 Russian energy firm Soyuzneftegaz signed the first offshore exploration contract with Syria for block number 2.
Op/Ed: ASTRO Act Shoots For the Stars
National Ocean Industries Association (NOIA) president Randall Luthi weighs in after the House Natural Resources Committee held a hearing on offshore development and introduced the Accessing Strategy Resources Offshore (ASTRO) Act. Today’s hearing was a slam dunk by the House Natural Resources Committee. Not only did the Committee bring in experts and stakeholders with their own unique offshore perspectives to the hearing, the Committee took a bold step in introducing the forward thinking ASTRO Act. By opening up the potential for…
Philippines, China to Explore for Oil & Gas Near Disputed Waters
The Philippines said on Thursday it was pursuing a long-delayed oil and gas exploration project with Chinese state-owned entity CNOOC Ltd and a Canada-listed company in an area near disputed waters in the South China Sea. Energy Secretary Alfonso Cusi said the Philippine government was also looking for a "win-win solution" with other South China Sea claimants, including China, to pave the way for oil and gas exploration within contested waters. China claims most of the South China Sea, through which about $5 trillion in ship-borne trade passes annually, while Brunei, Malaysia, Taiwan and Vietnam also have claims.
Thailand Amends Law to Give More Energy Exploration Options
Thailand's military-appointed assembly approved an amendment to a petroleum law on Thursday which will give companies more options for exploration and production operations. Currently, oil and gas companies must get a concession to operate in a Thai field. The proposed amendment will add the option of striking production sharing agreements (PSA) or service contracts. Thailand's Erawan gas concession, operated by Chevron Corp. , and the Bongkot gas concession, operated by state-backed PTTEP Exploration and Production PCL, expire in 2022 and 2023. The government wanted new arrangements in place before these are concessions were renegotiated.
Somali President Appoints Oil Firm Executive as PM
Somalia's newly elected president on Thursday appointed the country director of British firm Soma Oil and Gas as the new prime minister, raising questions about possible conflicts of interest in the Horn of Africa country. President Mohamed Abdullahi Mohamed, known as "Farmajo", named Hassan Ali Khaire as prime minister, state radio website Radio Muqdisho.net said. "The president has requested Somali citizens to work with the prime minister," the statement on Radio Muqdisho.net said. Mohamed took office peacefully this month after legislators selected him from 21 possible candidates.
NOIA Slams BOEM’s Denial of Offshore Seismic Permits
National Ocean Industries Association President Randall Luthi today issued the following statement on the Bureau of Ocean Energy Management’s denial of seismic survey permits for the Atlantic OCS. “In yet another ‘black Friday’ announcement targeting the offshore oil and natural gas industry, the Bureau of Ocean Energy Management’s (BOEM) blanket denial of seismic survey permits is an unsurprising attempt to put another nail in the coffin of sensible energy exploration in the Atlantic. Not only does this decision conflict with BOEM’s own scientific conclusion that seismic surveys are environmentally safe…
Op/Ed: A Nail in the Coffin for US Offshore Exploration
National Ocean Industries Association (NOIA) president Randall Luthi issued a statement slamming the U.S. Bureau of Ocean Energy Management’s (BOEM) denial of seismic survey permits for the Atlantic Outer Continental Shelf (OCS). In yet another ‘Black Friday’ announcement targeting the offshore oil and natural gas industry, the BOEM blanket denial of seismic survey permits is an unsurprising attempt to put another nail in the coffin of sensible energy exploration in the Atlantic. Not only does this decision conflict with BOEM’s own scientific conclusion that seismic surveys are environmentally safe…
Arctic Drilling Ban Gives Canada Leg Up -US Lawmakers
U.S. lawmakers on Wednesday slammed an agreement made with Canada to ban offshore Arctic drilling, saying Ottawa's plan to review its ban every five years gives Canada a leg up on energy exploration. U.S. President Barack Obama on Tuesday announced a ban on new oil and gas drilling federal waters in the Atlantic and Arctic Oceans, while Canada instituted a similar ban in its Arctic waters. Unlike the United States, where the ban is indefinite, Canada said it will review its restrictions every five years. "With Russian development already underway in the Arctic…
US Offshore Regulator to Unveil Tougher Environmental Safeguards
The U.S. government agency created after the 2010 Deepwater Horizon oil spill plans in coming weeks to unveil tougher financial requirements for offshore oil producers aimed at protecting taxpayers from the risk of cleaning up abandoned oil rigs, an agency executive told Reuters. Under the new guidelines, the Bureau of Ocean Energy Management (BOEM) will demand additional guarantees to cover producers' legal obligation to plug offshore wells and dismantle rigs in the Outer Continental Shelf once they have extracted oil and gas, according to Renee Orr, chief of Strategic Resources at the agency.
Woods Hole Celebrates 30th Anniversary
Woods Hole Group, Inc. announces its 30th anniversary on May 16, 2016. Originally incorporated in 1986 as Aubrey Consulting, the company has grown and diversified, while maintaining its focus on applying new technologies and scientific methods to efficiently solve real-world problems. The corporate headquarters remains in Falmouth, Massachusetts, supported by domestic operations in Delaware (Dover), Florida (Jacksonville), and Texas (Houston), along with partners in more than 10 countries to support international operations. Building on its pedigree of coastal specialists…
Francaise de l'Energie plans IPO
Coalbed methane gas exploration firm Francaise de l'Energie (FdE), which says it has gas reserves worth six years of French national yearly gas consumption, said in a statement it plans an initial public offer (IPO) of its shares. The firm did not detail how much money it hopes to raise or whether it would sell existing shares or raise new capital. FdE has no revenue at the moment but said it will have revenue following the completion of its takeover of Gazonor, which had 2014-15 revenue of 4.5 million euros. The company wants to have…
