• 8 hours OPEC, Russia Said To Announce Oil Pact Extension On Nov 30
  • 11 hours Wintershall And LetterOne In Talks For $12B Oil, Gas Merger
  • 13 hours India Exempts State Oil Firms Mergers From Competition Approval
  • 15 hours Turkey Targets $5B Investment In Wind Energy By End-2017
  • 17 hours Weatherford Looks To Sell Assets To Ease Some Of $8B Debt
  • 18 hours OPEC Set To Move Fast On Cut Extension Decision
  • 20 hours Nigeria Makes First Step Away From Oil
  • 1 day Russia Approves Profit-Based Oil Tax For 2019
  • 1 day French Strike Disrupts Exxon And Total’s Oil Product Shipments
  • 2 days Kurdistan’s Oil Exports Still Below Pre-Conflict Levels
  • 2 days Oil Production Cuts Taking A Toll On Russia’s Economy
  • 2 days Aramco In Talks With Chinese Petrochemical Producers
  • 2 days Federal Judge Grants Go-Ahead On Keystone XL Lawsuit
  • 2 days Maduro Names Chavez’ Cousin As Citgo Boss
  • 2 days Bidding Action Heats Up In UK’s Continental Shelf
  • 2 days Keystone Pipeline Restart Still Unknown
  • 2 days UK Offers North Sea Oil Producers Tax Relief To Boost Investment
  • 3 days Iraq Wants To Build Gas Pipeline To Kuwait In Blow To Shell
  • 3 days Trader Trafigura Raises Share Of Oil Purchases From State Firms
  • 3 days German Energy Group Uniper Rejects $9B Finnish Takeover Bid
  • 3 days Total Could Lose Big If It Pulls Out Of South Pars Deal
  • 3 days Dakota Watchdog Warns It Could Revoke Keystone XL Approval
  • 4 days Oil Prices Rise After API Reports Major Crude Draw
  • 4 days Citgo President And 5 VPs Arrested On Embezzlement Charges
  • 4 days Gazprom Speaks Out Against OPEC Production Cut Extension
  • 4 days Statoil Looks To Lighter Oil To Boost Profitability
  • 4 days Oil Billionaire Becomes Wind Energy’s Top Influencer
  • 4 days Transneft Warns Urals Oil Quality Reaching Critical Levels
  • 4 days Whitefish Energy Suspends Work In Puerto Rico
  • 4 days U.S. Authorities Arrest Two On Major Energy Corruption Scheme
  • 4 days Thanksgiving Gas Prices At 3-Year High
  • 4 days Iraq’s Giant Majnoon Oilfield Attracts Attention Of Supermajors
  • 5 days South Iraq Oil Exports Close To Record High To Offset Kirkuk Drop
  • 5 days Iraqi Forces Find Mass Graves In Oil Wells Near Kirkuk
  • 5 days Chevron Joint Venture Signs $1.7B Oil, Gas Deal In Nigeria
  • 5 days Iraq Steps In To Offset Falling Venezuela Oil Production
  • 5 days ConocoPhillips Sets Price Ceiling For New Projects
  • 7 days Shell Oil Trading Head Steps Down After 29 Years
  • 7 days Higher Oil Prices Reduce North American Oil Bankruptcies
  • 8 days Statoil To Boost Exploration Drilling Offshore Norway In 2018

BP Faces Another Setback In Plans To Drill Pristine Australian Coast

Australian Bight

BP’s controversial plan to drill in one of Australia’s unique ecosystems hit another snag this week.

BP is hoping to drill in the Great Australian Bight, a stretch of coastline in Australia’s south that is home to whales, sea lions and other wildlife. But Australian regulators delayed the British oil giant’s efforts once again, ruling this week that BP needs to provide more information on its oil spill response plan before it is allowed to move forward.

The move could be a small delay, however. It is not seen as a major setback and does not necessarily mean that Australian regulators are any closer to approving or rejecting the drilling plan. BP has a month to submit more information, the third time that regulators have requested a more detailed plan.

For BP, the Great Australian Bight represents one of the last major potential sources of unexplored oil in the world. BP says the geology could be similar to the Mississippi Delta, where the industry has been producing for years. BP has a slick video on its website trumpeting the opportunity in the Great Australian Bight.

“This is really exciting. This is a frontier basin, and by that we mean it isn’t a discovered basin like the Northwest Shelf of Australia where there’s lots of operators and lots of wells and lots of discoveries and production being made,” Bryan Ritchie, VP of BP’s Exploration Asia Pacific unit, said in the company’s promotional video. “This is…had a couple of wells in the basin and we don’t think those wells went deep enough to test the potential of this basin.”

But environmental groups say that any spill response plan would be inadequate, and that no drilling should be allowed, especially given BP’s track record. “The risks posed by this project to the environment and the economy of coastal communities across southern Australia are simply too great,” Peter Owen, the director of the Wilderness Society in South Australia, said in a statement. “The time has come for this project to be terminated once and for all,” he said.

By Charles Kennedy of Oilprice.com

More Top Reads From Oilprice.com:




Back to homepage


Leave a comment
  • Wommera on September 28 2016 said:
    GDay, Try drilling on a floater when there are 9m waves between May and September. I saw one once in March. They are a constant in July.
    Regards, Woomera

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News