Energy

The Israeli Energy Ministry has launched a data room in their Energy and Economic Mission in Houston, Texas, based in the Galleria area.

BP has announced that it has established a $100 million fund for projects that will deliver new greenhouse gas (GHG) emissions reductions in its Upstream oil and gas operations. The new Upstream Carbon Fund will provide significant further support to BP’s work generating sustainable greenhouse gas emissions reductions in its operations.

Interior’s Assistant Secretary for Land and Minerals Management Joe Balash announces that region-wide Gulf of Mexico Lease Sale 252 generated $244,299,344 in high bids for 227 tracts covering 1,261,133 acres in federal waters of the Gulf of Mexico. A total of 30 companies participated in the lease sale, submitting $283,782,480 in all bids.

National Ocean Industries Association (NOIA) President Randall Luthi issued the following statement regarding the Gulf of Mexico Lease Sale 252 of 20 March 2019:

S&P Global Platts reports that Mexico’s state owned oil company, Pemex, has stabilized its crude oil production and expects to raise it by boosting drilling activity by 200% year on year in 2019.

Offshore wind is one of today’s most promising interventions to make a significant difference in reducing carbon emissions.

Prysmian Group, a world leader in the energy and telecom cable systems industry, has been awarded a contract worth approximately €30 million by PGL (Provence Grand Large), a floating offshore wind farm project located in South France, which is part of EDF Renewables, for the development of a turn-key submarine cable system.

On 7 March 2019, Sen. Mike Lee (R-UT) introduced the Open America’s Water Act of 2019 Thursday, a bill which would repeal the Jones Act and allow all qualified vessels to engage in domestic trade between U.S. ports.

The Business Network for Offshore Wind (“the Network”) announces that offshore wind industry leaders will headline the sixth annual International Partnering Forum (IPF), the #1 technical conference in the U.S. dedicated to moving the nation’s offshore wind industry forward.

Like generals planning for the last war, oil company managers and government inspectors tend to believe that because they survived the 2010 BP Deepwater Horizon oil spill, they are ready for all contingencies. Today they are expanding drilling into deeper and deeper waters, and the Trump administration is opening more offshore areas to production.

The United States will drive global oil supply growth over the next five years thanks to the remarkable strength of its shale industry, triggering a rapid transformation of world oil markets according to the International Energy Agency’s annual oil market forecast. By the end of the forecast, oil exports from the United States will overtake Russia and close in on Saudi Arabia, bringing greater diversity of supply.

A statement from National Ocean Industries Association (NOIA) on President Donald Trump’s 2020 Budget endorses the overall vision, while rejecting certain specific elements.