• 3 days Retail On Pace For Most Bankruptcies And Store Closures Ever In One Year: BDO
  • 10 minutes America Could Go Fully Electric Right Now
  • 3 hours Majors Oil COs diversify into Renewables ? What synergies forget have with Solar Panels and Wind Tirbines ? None !
  • 2 hours Something wicked this way comes
  • 3 hours A sneak peak into the US election
  • 4 hours America's Frontline Doctors - Safely Start Living Again!
  • 7 hours France Sees 10.6% EV Market Share In September — 4× Growth Year On Year
  • 21 hours covid. stop the carriers and thus stop the virus.
  • 1 day Is the coal industry on the way out?
  • 1 day "COVID Kills Another Oil Rally" by Tom Kool 10/16/2020
  • 2 days GPOR - Gulfport Oil - Why?
  • 9 hours California’s Electric Vehicle Dream Has A Major Problem: No
  • 10 hours Tesla Model 3 Is September's Top Selling Car of All Vehicles in Switzerland
  • 1 day Tucker Carlson responds to CDC after agency critiques commentary about mask-wearing
  • 16 hours Vote Biden for Higher Oil Prices
  • 17 hours Permian in for Prosperous and Bright Future
  • 22 hours Ethanol present in gasoline
Is U.S. Shale Finally Bouncing Back?

Is U.S. Shale Finally Bouncing Back?

The U.S. oil rig count…

COVID Kills Another Oil Rally

COVID Kills Another Oil Rally

Yet another oil price rally…

New Offshore Drilling Rules have been Released

President Obama has released the official rules for offshore drilling safety which will now replace the interim rules introduced following the 2010 Gulf of Mexico Disaster.

The rules clarify the requirements that operators of offshore wells must follow in relation to the well-control barriers and the installation of mechanical barriers, the testing of cement used in the sealing of wells, the methods for blowout prevention, and the procedures for decommissioning operations.

The new rules will cost the industry an extra $130.7 million a year due to the increased number of inspections, tests, and new equipment that they demand.

However environmentalists are still not happy, claiming that the rules are not tough enough, especially as companies are moving into the Arctic and drilling ever deeper wells in the Gulf.

David Pettit, a senior attorney at the New York- based Natural Resources Defense Council, said to Bloomberg that the new rule “is stronger than the interim rule but not strong enough. It should require real-world testing of the response time for containment of a wild well.”

By. Joao Peixe of Oilprice.com



Join the discussion | Back to homepage



Leave a comment

Leave a comment

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