Interior issues final offshore well control regulations

The US Department of the Interior issued offshore oil and gas well control regulations aimed at reducing the risk of a blowout that could result in the loss of lives, serious injuries, or substantial harm to the environment. Source: News

Firm sees limited output-freeze results

An oil-production freeze to be discussed in Doha Apr. 17 would have limited “real results,” predicts Wood Mackenzie. Source: News

CSB: Offshore regulatory reforms since Macondo accident fall short

Offshore oil and gas regulatory changes since the 2010 Macondo deepwater oil well accident and crude oil spill do not do enough to place the onus on industry to reduce risk, nor sufficiently empower the federal regulator to proactively oversee industry’s efforts to prevent a similar disaster, the US Chemical Safety Board said in a […]

Energy XXI files bankruptcy, restructuring

Energy XXI Ltd., an independent oil and gas producer active in South Louisiana and the Gulf of Mexico, has filed for voluntary bankruptcy to accommodate a restructuring it says will allow operations to continue. Source: News

IEA: Oil market ‘set to move close to balance’ in second half

The scenario anticipated for months of steady oil demand growth and falling supply from producers outside the Organization of Petroleum Exporting Countries is now taking shape, and the “oil market looks set to move close to balance in the second half of this year,” the International Energy Agency said in its latest Oil Market Report. […]