focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksRDSA.L Share News (RDSA)

  • There is currently no data for RDSA

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

U.S. govt gauges interest in new Chukchi Sea offshore oil leasing

Fri, 27th Sep 2013 00:07

By Yereth Rosen

ANCHORAGE, Alaska, Sept 26 (Reuters) - The U.S. governmenton Thursday started to formally gauge energy companies' interestin future oil and gas leasing in the Chukchi Sea near Alaska,site of a trouble-plagued 2012 exploration season for RoyalDutch Shell Plc.

The "Call for Information and Nominations" issued by theU.S. Bureau of Ocean Energy Management (BOEM) is the first stepin a potential Chukchi Sea lease sale under consideration for2016, officials said.

The Chukchi, off Alaska's northwest coast, is believed to beoil-rich, but its remote location and harsh Arctic Oceanconditions have challenged would-be developers.

The last Chukchi lease sale, held in 2008 by the MineralsManagement Service, BOEM's predecessor, drew a record $2.66billion in bids, $2.1 billion of that from Shell.

Shell did preliminary drilling on one Chukchi well in 2012.After experiencing equipment failures and accidents, it declinedto drill again this year. The company has announced no decisionabout returning to complete that well or drill others in 2014.

Shell's well was only the sixth ever drilled in the Chukchi.

The call to industry on Thursday asks for nominations ofspecific blocks within the Chukchi that might be promising fornew leasing, in order to focus on targeted regions that wouldavoid environmentally sensitive areas, BOEM said.

"Any future leasing in the Chukchi Sea must be focused onareas that can be developed safely and responsible while alsoprotecting sensitive habitats and places that are important toAlaska Native hunters and fishermen," BOEM Director TommyBeaudreau said in a statement.

Environmentalists said it was a mistake even to consider newleasing in the Chukchi after Shell's experiences, which includeda grounded drillship, air-pollution violations and failure tosecure needed oil-spill equipment.

"Shell's long list of setbacks and failures during its 2012Arctic drilling campaign, combined with the reality that thereis no effective way to clean up an oil spill in Arcticconditions or infrastructure in the region to support anadequately safe drilling or cleanup effort, providesoverwhelming evidence that the oil and gas industry is notprepared to operate in the Arctic Ocean," said Cindy Shogan,executive director of the Alaska Wilderness League.

Other companies have active leases in the Chukchi, includingConocoPhillips and Statoil. Conoco planned todrill at least one well in 2014, but then announced this year anindefinite postponement.

The proposed 2016 Chukchi lease sale is one of three in afive-year BOEM leasing plan for Alaska's outer continentalshelf. Other lease sales are eyed for Cook Inlet insouth-central Alaska and the Beaufort Sea off the northerncoast.

Shell also did preliminary drilling in 2012 on a Beaufortexploration well. In the Beaufort, seven leases held by avariety of companies are due to expire this year, and 20 are dueto expire in 2015, said John Callahan, a BOEM spokesman inAnchorage.

The Chukchi is believed to hold over 15 billion barrels ofrecoverable oil and the Beaufort is believed to hold over 8billion barrels, according to federal estimates.

More News
30 Dec 2021 09:28

UPDATE 2-FTSE 100 edges down as COVID fears dull festive cheer

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)* Industrial stocks eye best performance in 23 years* Travel and leisure hit by Omicron fears* Ashtead the top YTD performer on FTSE 100* UK ...

Read more
30 Dec 2021 05:33

UPDATE 5-Oil prices rise slightly ahead of OPEC+ meeting next week

* U.S. crude, fuel stocks fell last week; output rises -EIA* Saudi king says OPEC+ pact 'essential' for oil market stability (New throughout, updates prices, market activity and comments to settlement, adds OPEC+ meeting details and PSM details)By...

Read more
28 Dec 2021 09:41

S.African court halts Shell's offshore seismic survey

CAPE TOWN, Dec 28 (Reuters) - A South African high court on Tuesday blocked Shell from conducting seismic testing offshore from South Africa's pristine Wild Coast, in the latest ruling in a case seeking to prevent the oil major from exploring for...

Read more
27 Dec 2021 14:01

Mexican president says Pemex to close Deer Park deal in January

MEXICO CITY, Dec 27 (Reuters) - Mexican state oil company Petroleos Mexicanos (Pemex) will complete its purchase of a controlling interest in a Texas oil refinery in January, Mexican President Andres Manuel Lopez Obrador said on Monday.Mexico's go...

Read more
24 Dec 2021 10:03

UPDATE 1-Russia says Europe missing out on gas with Nord Stream 2 delay

(Recasts, adds quote, background)MOSCOW, Dec 24 (Reuters) - Europe, struggling with soaring gas prices, is missing out on additional Russian supplies amid delays to the Nord Stream 2 pipeline, a top Russian official signalled on Friday.Deputy Prim...

Read more
24 Dec 2021 08:26

Russia's Novak: Nord Stream 2 hindered by politics

MOSCOW, Dec 24 (Reuters) - The launch of the Nord Stream 2 natural gas pipeline is being hindered by politics, but Russia still hopes its certification will be completed by mid-2022, Russian Deputy Prime Minister Alexander Novak said on Friday.The...

Read more
24 Dec 2021 08:19

Russia says Nord Stream 2 a bargaining chip for U.S., EU, Interfax reports

MOSCOW, Dec 24 (Reuters) - The Nord Stream 2 gas pipeline project linking Russia with Europe has become a bargaining chip in a game played by the United States and the European Union, Russian Deputy Foreign Minister Sergei Ryabkov said on Friday, ...

Read more
23 Dec 2021 14:14

Third Point's Loeb slams activists after UK fund chairman quits

LONDON, Dec 23 (Reuters) - Hedge fund Third Point's boss Dan Loeb on Thursday blamed the departure of the chairman of the firm's London-listed fund on "inexperienced" and "juvenile antics" of activist investors.Third Point Investors Limited (TPIL)...

Read more
22 Dec 2021 20:56

Shell declares force majeure on Nigerian Forcados crude

LAGOS, Dec 22 (Reuters) - Royal Dutch Shell's Nigerian subsidiary SPDC has declared force majeure on exports of Nigerian Forcados crude oil after the obstruction of a tanker path by a malfunctioning barge, the company said in a statement.The actio...

Read more
22 Dec 2021 13:49

UPDATE 3-Mexico says U.S. approves Deer Park refinery deal, sees completion early 2022

(Adds details)MEXICO CITY, Dec 22 (Reuters) - The U.S. government has authorized the purchase by Petroleos Mexicanos (Pemex) of Royal Dutch Shell's controlling interest in a Texas oil refinery in a transaction that should conclude early next year,...

Read more
22 Dec 2021 13:49

UPDATE 2-Mexico says U.S. government approves Deer Park refinery deal

(Adds context, comment from Pemex CEO)MEXICO CITY, Dec 22 (Reuters) - The U.S. government has authorized the purchase by Petroleos Mexicanos (Pemex) of Royal Dutch Shell's controlling interest in a Texas oil refinery, Mexican President Andres Manu...

Read more
22 Dec 2021 13:49

UPDATE 1-Mexico says U.S. government approves Deer Park refinery deal

(Adds details)MEXICO CITY, Dec 22 (Reuters) - The U.S. government has authorized the purchase by Petroleos Mexicanos (Pemex) of Royal Dutch Shell's controlling interest in a Texas oil refinery, Mexican President Andres Manuel Lopez Obrador said on...

Read more
22 Dec 2021 13:15

Mexico says U.S. government approves Deer Park refinery deal

MEXICO CITY, Dec 22 (Reuters) - The U.S. government has authorized the purchase by Petroleos Mexicanos (Pemex) of Royal Dutch Shell's controlling interest in a Texas oil refinery, Mexican President Andres Manuel Lopez Obrador said on Wednesday.Lo...

Read more
21 Dec 2021 19:06

UPDATE 1-Texas lawsuit by laundromat owners seeks to block Shell refinery sale to Pemex

(Adds U.S. Treasury, CFIUS decline to comment)By Stefanie Eschenbacher and Gary McWilliamsMEXICO CITY/HOUSTON, Dec 21 (Reuters) - A pair of New York businessmen filed a lawsuit in a U.S. court seeking to block Mexico's state oil company Petroleos M...

Read more
21 Dec 2021 18:32

Texas lawsuit by laundromat owners seeks to block Shell refinery sale to Pemex

By Stefanie EschenbacherMEXICO CITY/HOUSTON, Dec 21 (Reuters) - A pair of New York businessmen filed a lawsuit in a U.S. court seeking to block Mexico's state oil company Petroleos Mexicanos (Pemex) from taking control of a Texas refinery, claimin...

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.