Will the Future be Walls or Bridges? Equinor Releases "Energy Perpectives 2022"
Energy Perspectives 2022: Long-term development in the world’s energy markets and how politics, technologies, companies, and consumers can influence it, is an overarching theme of the energy transition.With inflation raging, geopolitical disruption and resultant energy security concerts, and continued logistics woes, the table is set for Equinor to deliver its insights on energy courtesy of its "Energy Perspectives 2022" report.“Russia’s invasion of Ukraine earlier this year has not only tragically impacted the lives and livelihoods of those directly affected…
As US Opens Up Offshore Waters, Eastern GoM Beckons
President Donald Trump's administration has proposed opening up nearly all of America's offshore waters to oil and gas drilling, but the industry says it is mainly interested in one part of it, now cordoned off by the Pentagon: the eastern Gulf of Mexico. The industry's focus on an area located near a sprawling network of existing platforms, pipes and ports could ease the path to new reserves, and assuage the drilling opponents near other places offered under the Interior Department's proposed drilling plan issued last week, like California's Pacific, the Atlantic and Arctic. But accessing it would likely require the consent of the U.S. military.
Op/Ed: DPP a Benchmark Toward US Energy Dominance
National Ocean Industries Association (NOIA) president Randall Luthi comments on the U.S. Department of the Interior’s (DOI) 2019-2024 National Offshore Oil and Gas Leasing Draft Proposed Program, which seeks to open nearly all U.S. offshore waters to oil and gas drilling. With 94 percent of our nation’s outer continental shelf (OCS) currently and unnecessarily off limits to oil and gas leasing and exploration, NOIA welcomes the bold and broad offshore leasing proposal released January 4 by the Department of the Interior.
NOIA Appoints Four to BoD
National Ocean Industries Association (NOIA) Chairman David Welch has appointed four new members to the association’s Board of Directors. The appointments were announced today during NOIA’s fall meeting in Jackson Hole, Wyoming, where the association is commemorating 45 years of commitment to America’s offshore energy industry. Today, the oil and gas industry, long centered in the Gulf of Mexico, produces 17% of America’s domestic oil and 5% of our domestic natural gas, while off the coast of Rhode Island, America’s first offshore wind farm is providing energy to residents and businesses on Block Island. “The offshore energy industry has come a long way in the last 45 years.
NOIA Praises US Approval for Shell Arctic Drilling
National Ocean Industries Association (NOIA) President Randall Luthi today issued a statement offering his praise of Royal Dutch Shell’s revised Application to Drill in the Chukchi Sea. The Interior Department granted Shell final approval to drill into the oil zone in the Chukchi Sea off northern Alaska after the Fennica, an icebreaker the company leases that carries an emergency capping stack, was repaired after suffering a gash in its hull. “Secretary Jewell and the Bureau of…
Arctic Energy Exploration: Not If, But When?
Energy exploration in the Arctic has been a hot topic in recent years and shows no signs of cooling down anytime soon. However, the United States appears stuck in neutral on the topic and those opposed to oil and natural gas exploration anywhere have used the Federal inaction to advance their arguments against any development. Whether the rest of the world’s Arctic regions will be explored is no longer a question of if, but when. While U.S. officials have stood on the edge contemplating new regulations, new requirements and litigation setbacks, other countries have moved ahead. Russia, Canada and Norway continued to advance their exploration programs in 2013, and 2014 will see more. U.S.
U.S. oil reserves highest since 1970s
U.S. exploration and production companies are finding accumulations of crude and condensates twice as fast as they are producing them, according to statistics published on Thursday. Proved reserves of crude stood at 30.5 billion barrels at the start of 2013. If condensates are included, proved reserves reached 33.4 billion barrels, the highest since 1976, according to a new report from the U.S. Energy Information Administration ("U.S. crude oil and natural gas reserves proved reserves" April 10). Proved reserves are those which owners believe with reasonable certainty can be extracted at prevailing prices using existing technology - where reasonable certainty means a probability of at least 90 percent.
Western GofM Oil/Gas Lease Bidding: NOIA Comments
National Ocean Industries Association President Randall Luthi encouraged by sales, urges further offshore developments. "This sale is on-par with expectations and shows that the offshore oil and natural gas industry is still committed to domestic exploration and production. The Federal government benefits from this sale through non-income tax revenue and the promise of future income through rents and potential royalties upon production. With enormous economic challenges facing the U.S., and the impending "fiscal-cliff" dominating the national conversation, it is gratifying to see the offshore industry stepping up to the plate and providing hundreds of millions of dollars to the U.S. treasury.
